Manage, assess and minimise the risk in litigation
Risk is an unavoidable factor in all litigation. No one can guarantee you success! So if you make the decision to litigate, risk management and risk assessment are crucial throughout the process.
- Get all of your evidence together and ensure that it will be available (including witnesses) at any hearing.
- Obtain a clear advice as to your prospects of success, based on the evidence.
- Be clear as to the possible outcomes and the desired outcomes.
- Understand the possible cost and other possible liability involved and ensure that you have the necessary financial resources or backing to fund the litigation from start to finish.
- Consider alternative dispute resolution avenues.
- Choose a good team of representatives, experts and advisers.
- Understand and agree strategy for the litigation to achieve desired outcomes.
- Be sure that you have the energy, strength and commitment to go the distance and to work cooperatively with your team.
- Be sure that you have the necessary degree of detachment to be able to commercially consider a settlement.
- Reassess strengths, weaknesses and prospects constantly throughout.
If you require any assistance or would like to discuss the above article further, contact a member of our Litigation Team.