When you are talking about business litigation, many people think of high-profile labor or contract disputes. And while these cases are certainly a part of business litigation, they aren’t always an everyday occurrence for lawyers specializing in this area of law. Business litigation attorneys can engage in multiple activities that benefit their clients, many of which can prevent the scenario described above.
The reality is that working with a qualified firm that specializes in business litigation can benefit you in multiple ways. These attorneys use their skills, education, and experience to review and manage documents and policies that ensure you are complying with applicable laws. And in the worst-case scenario, if you get sued, these experts can help defend your business. But perhaps the most important thing they can do is prevent legal issues by providing sound guidance that keeps your business safe.
It makes sense that many companies would want to work with a legal firm on a regular basis. Many companies enter contracts and execute high-value deals with much on the line. Others want to protect valuable intellectual property. There are many reasons to consult with a business attorney, but the reality is that they can benefit you by providing the following:
- Time and money savings. Business attorneys can save time and money by quickly explaining complex legal issues and strategies to reduce liability. And this lets you get back to the business of running your company and growing your customer base.
- Understanding legal pitfalls: If possible, the best way to win business litigation is to avoid it altogether. Even if your company wins the case, the legal expenses of mounting a defense can put a huge dent in your profits. Therefore, having legal guidance to assist you with everything from business planning to identifying legal issues with a new product, process, or marketing strategy can prevent you from ever going to court. And that is a huge benefit for your company.
- Give you peace of mind. You may be uncertain if you are thinking about making changes at your company or going in a new direction. Running through this with a qualified attorney beforehand can help you identify ways to protect your business throughout the change. And this will give you peace of mind to focus on your business without worrying about unforeseen legal challenges. A great business attorney can be a partner as you grow your business.
The reality is that despite the ability of business attorneys to handle court cases, the most important thing they can do is help you avoid ending up in court. Their guidance is key to ensuring you are legally protected to the greatest extent. And these attorneys can help guide you on a number of business issues, such as:
- Breach of contract: In business, a breach of contract is committed when one party fails to perform their part of the deal. This can result in the injured party suing to enforce the contract or receive compensation.
- Breach of fiduciary duty: Some companies rely on a board of directors to act in the best interests of the shareholders. A breach of fiduciary duty occurs when a board member has a conflict of interest or engages in self-dealing.
- Fraud: Fraud disputes occur when one party accuses another of making a material misrepresentation or omission of fact during a business transaction to gain an unfair benefit. Fraud can occur in many business arrangements, including the sale of goods or other transactions.
- Intellectual property: Companies have intellectual property rights for trade secrets, formulas, recipes, manufacturing designs, and processes. A skilled attorney can help secure your business’s intellectual property rights from infringement or violation.
- Non-compete and unfair competition: Non-compete clauses may be included in an employment contract to prevent the employee from leaving the company and taking confidential information or training to benefit a competitor.
- Employment law: Labor disputes and employment law include a wide range of things, ranging from compensation disputes to wrongful termination and discrimination claims. An attorney can help you draft compliant policies, reducing your risk of dealing with complex business litigation related to employment law.
- Torts: Business torts are wrongful actions that someone takes against a business that results in financial harm.
- Class action lawsuits: Class action lawsuits usually come up in the context of personal injury or product liability claims.
Your business can likely benefit from working with a reputable and experienced business attorney in all of the above scenarios- and many more. To learn more about business litigation, contact Grellas Shah, LLP today!