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A detailed look at business litigation for New Jersey residents

Any New Jersey business owner is probably aware that when it comes to business, conflict and disputes are often in the picture. One might be surprised to learn that in any given year, between 36 and 53 percent of small business owners are involved in some form of litigation. It may be in an even bigger surprise for some to learn that at any given point in time, 90 percent of all businesses are involved in some form of litigation.

One of the most common issues in business owners have to deal with are contract disputes. Contracts are an essential part of any business. There are steps that can be taken to minimize the likelihood of disputes, such as meeting with any potential investors, vendors and others multiple times, whether in person or via video conference to hammer out a contract that meets both parties' needs, as well as ensuring it falls in line with industry standards.

However, no matter how much effort is put in up front, the statistics stated above illustrate that a breach of contract will happen at some point. Whether one is contemplating a lawsuit due to a breach, or has just been sued, it is critical that one understand all their available options and what the proper course of action would be, given the unique set of circumstances. Ideally, businesses want to be able to minimize their exposure to potential liability, while still keeping their flexibility with alternative methods of resolving the conflict.

Given the frequency to which lawsuits are pursued, it is wise for business owners to have a plan set in place to reduce potential conflicts, as well as having a plan in place for when a conflict does arise. Experienced business litigation professionals have the ability to assess the specific facts of one's case and provide sound solutions to most effectively resolve the issue. For most, their business is their livelihood. It is important that people ensure their rights are protected at all times, both before and during a lawsuit.

Source: Forbes, "You're Going To Get Sued - Here's How Not To Get Screwed," July 14, 2014

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