In the world of business, there are many disputes that can arise. If you are the owner of a company, you should understand at least the basics of business litigation so you are better prepared to handle anything that comes your way.
What It Is
Business litigation involves a problem that happens due to relationships between two or more businesses. It usually involves a dispute in which one company makes a claim against another. If you find yourself in this situation, it’s best handled by your business attorney, as lawsuits become public records. You want your reputation to be left intact so sales don’t plummet. Attorneys understand how to handle such a situation, effectively taking it from the original complaint to the settlement without too much damage to your company.
Types of Litigation
Business litigation is as varied as anything else in the professional world, but there are some common types that are more often seen than others. When you know what those common types of litigation are, you can work toward avoiding it all together. Common litigation types include:
- Breach of Contract
- Breach of Fiduciary Duty
- Insurance Disputes
- Regulatory Investigations
- Partner Disputes
- Post-Closing Disputes
Of course there are others, but this gives you a good idea of what to watch out for and protect your company against. You can learn more by speaking with a business litigation attorney who handles these situations on a regular basis.
What to Do
If you find your business in a legal dispute, don’t sit back to find out what will happen. Be active in handling the situation so it has the best outcome for your company. It can be hard to confront, but it’s important you make that happen.
The first thing you should do is get in touch with an attorney. Even if the lawsuit is only a threat at the moment, your attorney can help you determine how to handle it. You may need to make some quick decisions, and your attorney can aid you in those.
Second, share with your attorney the way your business runs. If you have only been threatened to date, your lawyer, like a business lawyer in Charlottesville, VA, may be able to spot legal issues and can direct you in how to repair them. If you have already been served with a lawsuit, the attorney may see flaws in the claim because of your own company policies.
Contacting an Attorney Today
Business litigation could be a pain to handle, but you don’t have to do it alone. Contact a business attorney today to learn more about it and to gain assistance in knowing what you can do to protect your business.
Thanks to Dale Jensen, PLC for their insight into business law.