Words are more powerful than ever in the 21st century. They can take businesses straight to the top or knock them down to the bottom.
Word of mouth (and pen or keyboard) spreads like a virus. Negative and defamatory statements can take over social media platforms until the next scandalous event takes precedence.
How might defamation affect a business?
Negative statements can result in a significant reduction in the volume of customers a business receives. As they spread across a local region, once-faithful consumers may decide to do business elsewhere. Business defamation may also lead to:
- Loss of business reputation
- Reduced employee morale
- Increased negative consumer reviews
- Loss of company profits
One of the most harmful ways defamation affects companies is the loss of sponsors and advertisers. Losing advertisers means you cannot gain new customers or keep your business transactions flowing.
What can you do about business defamation?
You usually have three options when others attack your business.
- Do nothing and let the matter die.
- Hire a reputation management company.
- File a business defamation lawsuit.
Of these three options, the first two are rarely effective. If you do nothing, potential customers might forget about the remarks, but it won’t reverse the damage already suffered. If you hire a reputation management agency, you will spend much on a company that might have contributed to your harm.
Business litigation that targets those who made defamatory statements can accomplish several things:
- It tells the public you want to defend your company and preserve your reputation.
- It keeps money out of the questionable hands of shady reputation management companies.
- It gives you a chance to tell your story and prove the statements are false.
Combining the truth with the law remains the ideal way to reverse some (or all) of the harm defamation caused your business. Contact us to learn more about your legal options.