If you’re involved in commercial litigation, you must remember that your ultimate goal is to persuade a jury or judge. Therefore, ensuring you are well-prepared is in your best interest. If you’re not prepared, the outcome may be costly and unfavorable. Fortunately, there are ways to prevent the need for a trial.
It Pays to be Aggressive
If you are planning to pursue a lawsuit, it pays to be aggressive. Often, litigators will be reactive, reacting to deadlines or actions by opposing counsel. However, aggressive lawyers are not necessarily jerks. A demure litigator with a fiery personality can be just as aggressive.
It Can Be costly if it Goes the Wrong Way
Commercial litigation is an incredibly complex process. It involves many different actors looking for justice. Many of these disputes are related to business transactions, products, and services. Even large corporations cannot avoid them. Dealing with legal disputes is part of business and should be budgeted accordingly.
While commercial litigation can be incredibly profitable in the short term, the long-term costs can add up quickly. In many cases, a case can take many years to resolve. There can also be significant discovery costs so you need to hire real experts like Real Estate Ponte Vedra Beach FL. It is also possible to incur fees from forensic experts and eDiscovery.
It Can be Settled Before the Trial
Most commercial litigation disputes are settled before trial. Both parties exchange relevant documents during the pre-litigation phase and may even provide testimony to the opposing counsel. Once the parties have reviewed the documents, they will meet with their attorneys to determine whether the case should proceed to trial or be settled. A settlement is often the more cost-effective option, but the case will likely go to trial. A trial is an opportunity for the judge or jury to review the evidence and decide on the case’s merits.
The lawsuit’s purpose is to establish liability and recover compensation from the Defendant. A plaintiff can seek actual, consequential, and punitive damages in a commercial lawsuit. Once the plaintiff has proven liability, the court will determine the exact amount of damages.
It Can be Expensive
Depending on the nature of the dispute, commercial litigation can be a very expensive process. For example, even a simple automobile dispute can cost over $100,000 per side if it goes to trial. The NCSC study points out that it can be difficult to estimate litigation costs accurately. Nonetheless, the model provided here gives some insight into the impact of these costs on litigant access to justice.
The lawsuit costs depend on the dispute type and the law firm you choose. For a simple employee dispute, the costs can be less than $300,000, but the costs of a large commercial litigation case can easily run into millions of dollars.