Triple Play What should a business owner consider about litigation?

Listen to this article

Triple Play is a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.

Michael A. Saffer is co-chair of the commercial and corporate litigation group at Mandelbaum Salsburg, a Roseland-based law firm, with experience litigating in contract actions, shareholder disputes, medical malpractice, adverse possession, palimony and bank fraud.

We asked Michael for three important things a business owner should consider when it comes to litigation.

What should business owners ask themselves in deciding whether or not to litigate a dispute? Whether suing is likely to bring about the business owner’s objective(s) in a cost-effective way. Cost includes hard dollars, damage to the brand and an owner’s time away from the core business.

What are the best ways for businesses to avoid suing or being sued? The best way is to contact your attorney prior to making any business decision that might have legal implications for your company. Paying your attorney to help evaluate a potential legal issue before your company proceeds is always less expensive than paying your attorney later to help your company out of a difficult legal problem.

How does a business owner make an informed decision whether to continue a suit or settle? Evaluate how well the litigation is proceeding and the likelihood of prevailing in the lawsuit, taking into account the cost to continue to litigate.