One important area of business associating together is in contracts and agreements. They define the kind of relationship companies share and shield businesses against legal disputes. While most business relationships are perceived to be healthy and beneficial for both parties, there are still numerous occasions where the parties involved develop dissatisfaction. This could be as a result of contract breaches, IP litigation, business torts, consumer class actions, regulator run-ins and shareholder disputes. And these are what makes commercial litigation disputes.
As a business person, understanding potential disputes areas can help you avert them in advance even before they take the legal route. It’s also important to identify situations when business litigation is going to be necessary.
Contract administration
However hard businesses strive to straighten their contract terms in negotiation stages, issues often arise during the implementation of a contract. For instance, if one side either knowingly or unknowingly fails to honor the terms of a contract or misinterpret it all together, it could mean a dispute. Either way, having commercial litigators can help sort out any contract discrepancy, or the party which has been faulted can be fairly compensated. According to the Bureau of Justice Statistics on the civil bench and jury trials, breach of contract cases make up 33% of civil cases filed in state courts.
Labor and employment law practices
The law that governs recruiting and hiring of employees is ever changing, this is according to various state and federal laws. As a result, it’s necessary for any business to have a commercial litigation lawyer to help out streamline its hiring practices. This will ensure that there are no blatant violations of law in regards to employment. In the event of a lawsuit by a dissatisfied applicant, then you really need to hire a litigation attorney to help clear the air.
Product liability
Another reason why as a business owner you might need a business litigation attorney is when facing product liability lawsuits. While it’s important to insure your business against such lawsuits, sometimes things happen and your products end up harming its consumers. In such a case, your company will be held liable and legal consequences may follow, hence the need for experienced commercial litigation professionals.
Consumer class action
Wondering when to hire a business litigation attorney? Well, when you are faced with class action lawsuits from a number of individuals, that’s the moment when you need strong legal representation. Lawsuits from groups of consumers can drain your company finances and really impact on your market share. A good commercial litigation attorney can scale down the settlements and help preserve your company’s reputation.
For modern business, it’s virtually impossible to operate and run smoothly without consulting business litigation experts. Lawsuits will be there, but what matters the most is the legal backing your business has to withstand such trying times.
