Blog Posts Tagged "risk management"
Records Retention: Which Documents Should You Keep and Which Should You Trash?
Posted on May 15, 2018 by TURNER PADGET LITIGATION TEAM
Keeping documents has never been easier or cheaper. Cloud storage has opened up nearly infinite room to save digital files and data indefinitely. However, just because you can save documents conveniently doesn’t mean it’s always a good idea. While storage is relatively inexpensive, the risks related to retaining unneeded records can be costly.
If your business documents have been stacking up in the absence of a formal retention plan, it’s time for a spring cleaning. Don’t have a retention plan? All businesses should have one. continue reading
Considerations for Whether, When and How Much to Pay to Settle Litigation
Posted on Jun 17, 2015 by TURNER PADGET LITIGATION TEAM
Most lawsuits never go to trial, but it is still difficult for a business that is the target of litigation to know whether and when to settle, and for how much.
It may be especially challenging for a defendant to take the initiative to settle when it feels it occupies the moral or legal high ground. However, while it may not seem fair, every defendant starts losing money the day the complaint is filed. Unless a defendant has a viable counter claim or a contractual agreement that the loser pays the winner’s fees and costs, the best a defendant can hope for is to lose only the cost of defense. For this and other reasons, it is often the best business decision to settle, even when in the right. But how much should a defendant pay to settle and at what point in the litigation, and at what number is it better to try the case? continue reading
All Businesses Should Have a Document Retention Policy
Posted on Mar 18, 2015 by TURNER PADGET LITIGATION TEAM
Technology has made it easy for us to electronically store documents that would have required warehouse-size space in paper form. Now, businesses wrestle with the question of what they can safely get rid of, and what they must retain. This is especially a problem for small businesses, which may not have the luxury of designating someone to supervise document retention. continue reading