197 - 5 Ways To Avoid Litigation

Business Legal Lifecycle Podcast

Nobody wants to get sued. It’s time consuming, stressful and incredibly expensive. Today, we're talking about litigation in your business. Specifically, we are discussing five ways to avoid litigation. Put it in writing That might sound simple, but any agreement must be put it in writing. Because when two people talk, they often misunderstand certain things. So if you put it in writing, you avoid that problem Actually reading the agreement Make sure you read it! Make sure there's nothing in there that you missed or that you weren't aware of. But also, if you think there's going to be a dispute and you're got a problem with someone make sure you read through that first before you go off and start firing off correspondence. Because that's one way to definitely bring litigation forward is to get sort of aggressive in correspondence. Keep them in the loop There's no point trying to stick your head in the sand. Communicate with them, talk to them, help them understand your reasons why you might need the extra time to pay the debt. So communication. Keeping the other side in the loop is such an easy way to avoid litigation Act before it escalates A lot of litigation escalates quickly, when, for instance, one party's not responding at all, or in a in a timely, timely fashion. Once it escalates, it's very hard to back down Put yourself in the other sides shoes People that people understand agreements differently. People have different expectations. So make sure that you put yourself in the other person's shoes. Because it's amazing when you do that, how you might actually empathize with that position. And you might be able to come to a resolution quickly.