Managing litigation risk - Part 1: stop disputes arising

Sensible and practical steps can help your business prevent disputes from arising.

It is an unfortunate fact of life that business activity generates disputes that may result in litigation or regulatory action.

Litigation is justifiably recognised as costly, unpredictable and inefficient - the antithesis of profitable business activity. However, litigation risk is not simply about legal expense. It is a broader issue which involves diversion of valuable management resources, reputational risk, brand damage and potential personal liability.

Over the next few weeks, we'll set out some clear guidance on how you want manage and reduce that risk. But of course prevention is better than cure. So, what can your business do to reduce the risk of a dispute in the first place?