What is commercial or business litigation?
Business law is the generalized term for any law and legal concern specifically involving businesses, companies, and corporations. Commercial litigation occurs when there is a legal dispute centered on business law that goes to court for litigation. For example, common causes of commercial litigation are contract breaches, business dissolutions, shareholder disputes, and fraud allegations.
Do you need to hire a business lawyer for a commercial litigation case?
You do not necessarily need to hire a business lawyer for a commercial litigation case, but it is absolutely a good idea in practically every case. Business disputes usually seem inconsequential at first, but they can rapidly entangle your business as the issue worsens. If you want to get matters under control quickly, then you should hire a business lawyer.
Will your business law case go to trial?
Most business owners assume that if there is a serious legal dispute that comes up, then they and their business are going to go to court to settle it. Although commercial litigation cases might imply that courtroom litigation is a must, this is not the case. Most cases are resolved with alternative methods before going to trial.
What is dispute de-escalation?
Dispute de-escalation is a legal service provided by business lawyers to help your company avoid litigation altogether. Using alternative dispute resolution (ADR) methods like mediation and arbitration, even the most heated business disputes can often be resolved amicably and while protecting the client’s best interests.
Can you avoid litigation with a contract agreement?
Your business might be able to avoid commercial litigation based on the details in the related business contracts. Specifically, if there is an applicable forced arbitration clause, then it could mean that your dispute must be settled out of court and in arbitration, not litigation. This is why it is so important to work with a knowledgeable business lawyer when drafting and finalizing contracts of all types.
Can a business owner be ordered to pay damages caused by their business?
The outcome of commercial litigation might not impact just your business. Depending on the type of business entity you own, you could become personally liable for any damages, losses, or fines the company is ordered to pay. One way to avoid the risk of personal liability for your company is to establish a limited liability company (LLC).
Can I hire an attorney instead of making a legal department for my company?
Yes, hiring a business lawyer to act as general counsel for your company can be a valid replacement for an on-staff legal department. This substitution is particularly cost-effective for smaller businesses with low risks of financial conflict and liability if something does come up.