Individuals and corporations in Ohio and throughout the country may be taken to court for almost any reason. Their litigation risk will likely depend on a variety of factors such as adhering to product safety or other laws. Large corporations tend to be at a higher risk of being sued because plaintiffs may be entitled to larger settlements or jury awards. Companies will typically take many factors into consideration when deciding whether to settle a case or proceed to trial.
In many cases, organizations will settle a case if doing so is less expensive than resolving the matter in court. A business must also decide if saving money is more important than the potential benefits of winning a case on its merits. Publicly-traded companies must generally include legal expenses as part of their operating budgets as they are at a higher risk of being sued.
For instance, a publicly-traded business might face litigation from shareholders who believe that a company is being poorly managed. Shareholders might also file lawsuits if they believe that an organization has intentionally manipulated an earnings report or otherwise engaged in fraudulent activity. Customers who are injured by defective products or are unhappy with a business for any other reason may also choose to take that company to court.
Company owners who are defendants in lawsuits may want to have a business litigation attorney help with their cases. An attorney may be able to show that an organization complied with safety, trademark or other applicable laws. Alternatively, legal counsel may help a company avoid a potentially costly lawsuit by negotiating a settlement. Coming to an agreement outside of court may allow a business to keep the details of a case secret and avoid admitting responsibility.