As a business owner or operator, you know that things do not always go according to plan or what was agreed upon. Perhaps you will be sold a defective product, fail to receive what you paid for, or suffer damages due to the defective design or manufacturing of a product that is not your own. Your first instinct in any of these cases might be to file suit in order to get back what you lost or at least receive some compensation for your damages. However, each lawsuit is different and it’s important to consult with an experienced commercial litigation attorney prior to deciding on a course of action. There are several factors you should consider and discuss with an attorney prior to filing suit against another company.
A major consideration to take into account is how likely it is that you will be able to collect on any judgment. Depending on the cost of obtaining a judgment and the amount of money you are seeking, if the business you are considering suing is filing for bankruptcy, it would be prudent to consider the cost of litigation vs. judgment. Will there be a company to collect from by the time the case makes it way through the courts?
After considering whether the judgment is collectible, your attorney should consult with you on the likelihood for success in obtaining a judgment. It is important to speak frankly and openly with your attorney during this process. The information you provide helps them assess the circumstances involved and what the likelihood is that your case will be successful resolved through litigation or settlement.
Filing suit can be a means to receive deserved compensation from a company that caused you damages. However, since neither a bad case nor a penniless defendant will be of any help to getting you compensation, you must consider both the likelihood of success and where the judgment is collectible before filing a suit. Working with an experienced commercial litigation attorney can help guide you regarding both of these considerations and decrease the likelihood that either would be able to derail your intention to collect.
If you need to speak to a corporate attorney in New Jersey of Pennsylvania
If you are thinking about filing a suit or a judgment against a company in a commercial litigation matter, I invite you to contact the commercial litigation team at Maselli Warren. Our seasoned corporate and commercial litigation attorneys have been representing corporate clients for over 15 years.