Five Tips to Avoid Getting Sued in the New Year
Within a business, there are few things worse than getting slapped with the dreaded lawsuit. Not only are lawsuits expensive, but they can be time-consuming, draining and frustrating. So how do you avoid one? Valorem Law Group, a business litigation firm in Chicago, has provided five tips to avoid getting sued:
1. Legal Contract Review: Even for the most routine and mundane contracts, have someone from your legal counsel review the contract before signing. The money spent upfront for legal review will save you ten times more than skimping on legal fees and facing litigation from the contract down the road. If using a standard form, make sure it has been reviewed in advance by counsel, and have it routinely updated.
2. Professional Office Communication: Train employees to use email professionally. Anything said internally or externally within an email may find its way to the other side in litigation. People tend to forget that this informal communication method often loses cases.
3. Analyze the Business: On a regular basis, analyze your business to determine if a certain area is receiving more lawsuits and if there is a trend as to why. If you are a manufacturer, for example, perhaps your designs or warnings are not up to par. If you are getting sued on vendor contracts more regularly, perhaps the language or verbiage needs to be tweaked.
4. Institute Policies and Procedures: Have policies and procedures in place for employment-related matters, and follow them.
5. Documentation: If you suspect something unethical or illegal is going on within your own company, investigate it immediately and document the results. Do not think that things will go away or go unnoticed. As inside counsel, remember that your fiduciary duty is to the company.
Valorem Law Group is a Chicago-based business litigation firm that believes clients are entitled to budget certainty, and to a real and realized commitment in dealing with cost pressures. Valorem is comprised of skilled, courtroom BigLaw firm refugees who consider themselves revolutionaries, risk-takers and entrepreneurs at their core. The group uses technology and efficiency to guarantee value-conscious legal service. Although they may not always take themselves too seriously, the quality of the work they provide clients remains a top priority. For more information visit www.valoremlaw.com. Find them on Facebook at "Valorem Law Group."