Business litigation is a specialized business law that deals with business disputes. The litigation process is when a dispute is taken to the court of law and is to be resolved there, or in the way of some formal legal proceeding. Business litigators need to be specialized in business law. They handle the claim of legal disputes of business ventures or defend such ventures in case of any wrongdoing. As a lawyer, they will often try to negotiate fair deals for their client outside the court so that the case is not dragged to the court of law.
Things to know about business litigation:-
- Breach of fiduciary duty: Shareholders of the business might accuse the business and its board members of breach of fiduciary duty to shareholders. Depending on the number of shareholders there can be many plaintiffs. The more the number of plaintiffs it ends up becoming a class action suit. Such lawsuits require specialized litigation procedures that can be done only by an experienced business litigation attorney.
- Breach of contract: Almost all business relationships are set up under a legally binding contract between both parties. In case of any breach of terms and conditions mentioned in the contract by one of the parties, the other party can file a lawsuit against him. Such lawsuits are only handled by a business litigation attorney.
- Partnership disputes: Such disputes are common in a business. Though initially, all partners start the business with a common goal and objective, over time they might disagree on how the business is to be run. In some cases, such disputes can also arise if one of the partners misuses the funds or assets, or is involved in illegal activity. Therefore, to protect the business and other people involved in the business, business litigation attorneys are hired. They negotiate with other partners to resolve the disagreements or go for dissolution of the partnership.
- Consumer litigation: If the business is involved in any malpractice when it comes to consumer goods and services, the consumer can assert a claim against the company. Such consumer litigation occurs if there is a defective product sold, breach of warranty, sale of adulterated products, etc. If the consumer is injured or falls ill due to the negligence of the business activities, they can file a personal injury lawsuit too. In such scenarios, business litigation attorneys represent the business’ rights and responsibilities.
Business litigation can be quite a costly affair if not handled correctly from the beginning. You will need to hire a reputed business attorney to represent your case and help you achieve the best possible outcome.
