Have you ever heard the saying about getting blood out of a turnip? You know that you can’t squeeze anything out of a turnip that isn’t there.
But there are businesses that try.
When something goes amiss, say a client doesn’t pay their bill; or a competitor infringes on a proprietary idea or product; or a vendor doesn’t produce quality or the service you desire, owners and management might consider filing a lawsuit or seeking damages. That’s the way the legal system works and those reasons may be justified and right.
But going to court and having a judge say you are right can be a huge mistake. If you are awarded a large settlement, it doesn’t matter – because if the other party has no money, you can’t get blood out of that turnip.
Figure out if you have a dry turnip BEFORE you go to the time and expense of filing suit. Many attorneys will suggest that an asset investigation is the prudent first step. Attorneys refer clients to International Investigations routinely as part of pre-suit exploration. A financial investigation including a comprehensive business asset search lays the groundwork for future steps. Depending on the case, a personal asset search may be conducted on the principles in an organization if they are personally liable.
These types of investigations do not uncover hidden assets or unknown assets. But the results of the asset investigation will tell you whether or not that turnip is dry. It is at that point that you and your attorney can determine whether the cost of litigation is worth the outcome. It might be advantageous to know you are right but to shake it off and go on about your business.
A business asset search investigator can be the best investment in these situations. Take the time to talk with before you begin a lawsuit.
-Brenda McGinley, CEO, All in Investigations, All in Investigations
