If you are a business owner, you may be worried about the possibility of being involved in litigation. Such a concern is understandable. A lot of small businesses spend thousands of dollars on litigation every year. But if litigation is inevitable for your business, a business attorney can give your company solid representation. Whether you want to pursue legal remedies or defend your company against claims of another organization, you should consult an attorney. Also, you may want to know the common lawsuits companies may face, so you can protect your interests.
Disputes can arise at any stage of employment. From the hiring stage to exiting, you want to know how your company should handle disputes that can occur. A lot of statutes cover employment law. Disputes over termination, wages, harassment, and discrimination can be complex. Your company faces a real threat if litigation must be done to resolve issues.
Intellectual Property Litigation
As a company owner, you invest significant resources to develop intellectual property such as software, trade secrets, and customer lists. Sometimes, litigation is a must if your competitors or previous workers try to gain an advantage by misappropriating your intellectual property. Also, you need a strong defense if your company uses assets that another company owns.
Fraud or Misinterpretation
Although you do not want to take part in willful misconduct, litigation may occur through misleading customers, partners, and vendors when you do business. Even a mistake in judgment can lead to litigation that impacts your reputation and bottom line. If your company becomes a subject of misrepresentation or fraud, you want to seek monetary compensation for your losses. You may need to bring a lawsuit to recover these losses.
Breach of Contract Actions
Contracts with other entities can be written or verbal. A breach of these agreements can lead to business lawsuits. As a business owner, you want to do everything to avoid disputes by carefully crafting documents; however, disagreements can still take place. A business lawsuit is an option to seek monetary damages; however, you can explore alternatives in cases of contract breaches. With equitable relief, you may be able to rescind or alter the agreement. A lawsuit for certain performance forces the defendant to comply with the requirements of a contract.
Whatever type of lawsuits your company will be involved in, you want to hire an experienced business and litigation attorney to represent you. Your chosen attorney will protect your interests and help you secure a favorable outcome.