As a Florida business owner, you want to do your best to keep your company, its assets and its proprietary information safe. Unfortunately, even after taking precautions, you could still wind up in difficult situations caused by other people. For example, a former employee may have violated a non-compete agreement or might have even provided a competitor with your company’s trade secrets. Numerous scenarios could take place that put your business at risk.
When someone violates a contract, including non-compete agreements, nondisclosure agreements, partnership contracts and more, your company could suffer damages as a result. To remedy this situation, you may consider filing a lawsuit, but first, you may find it useful to determine whether that is the best course of action.
Factors to consider before litigation
Certainly, the law has protections in place for businesses, and you have the right to take legal action if someone violates those protections or otherwise harm’s your company. However, if your case does not have much merit or if your company did not suffer significant damages, a lawsuit may not work in your interests. Some other factors you may want to consider include the following:
- Have you discussed the situation with the other party or made a final demand? It is not unusual for parties in the wrong to cease their actions when confronted about those actions, which may mean a lawsuit is not necessary.
- Do you have the time, money and effort to put into a lawsuit? You may want to file a lawsuit to protect your business, but your business could suffer if you do not have the appropriate resources to take on a lawsuit.
- Will you obtain monetary awards if you win your case? In some instances, the other party may not have the financial fortitude to pay damages after a lawsuit, so the process may not prove worth the effort.
Of course, a lot more consideration can go into filing a lawsuit than just these few examples.
How do you know when to sue?
In order to determine whether moving forward with a lawsuit is in your best interests and the best interests of your company, you may want to discuss your concerns with legal counsel. An attorney can go over other important aspects before filing a lawsuit and explain other possible courses of action.