How Commercial Litigation Affects Your Business In Arizona
Business Attorneys Explain The Risks Of Having a Commercial Litigation
If you have a problem with a business associate, a vendor, or even an employee, chances are good that you’ll be able to work with your business attorney to negotiate a solution. Even if the negotiations become fraught, chances are good that you’ll be able to reach an agreement in the end. However, sometimes, such agreement is not possible and your dispute has to be elevated to the next level: Litigation.
Whether you are bringing a suit against someone or you are defending yourself in one, litigation can be very costly and can take up a lot of your business’ time and resources. The exact impact the litigation will have will depend on the kind of case you have and what the outcome is, and your business attorney will walk you through each of these possibilities.
Types Of Business Litigation Cases
Not all commercial litigation is the same. The type of case you have will determine what kind of legal approach you take and what kind of impact it may have on your business. The types of commercial litigation cases include:
Contract disputes can involve a number of issues, and they can be with employees, vendors, business partners, service providers, and more. The goal of a contract dispute usually involves compensatory remedy for actual monetary losses, attorney fees, and – sometimes – punitive damages. Contract disputes don’t usually evolve to litigation unless they involve meaningful sums.
Intellectual Property Disputes
Intellectual property includes things like copyrights, patents, and trade secrets. Maybe your business has a proprietary process, and now your competitors have gotten a copy of it and are trying to use it. You can sue them for theft of intellectual property. It may be worth taking these cases to court as your protected recipes, blueprints, processes, and so on are what set your company apart. Losing one of these cases could mean serious, long-term losses for your company.
Business torts involve things like unfair competition, fraudulent misrepresentation, and tortious interference. An example of a fraudulent misrepresentation case might be a bank suing a company for misrepresenting its financial situation in a loan application, or a business seller lying or withholding important facts during the sale of the company. An example of an unfair competition case might involve one business suing another for harming its profits or reputation by lying about the other business in its advertising. An example of a tortious interference case would be when one business wrongfully harms a competitor’s relationship with an employee, supplier, owner or partner.
Potential Outcomes Of a Commercial Litigation
The impact that commercial litigation in Chandler has on your business depends on many factors. If you are the one bringing suit and you get a decision in your favor, the outcome could be a net positive–although the risk of attorneys’ fees always looms large. But if you are the one being sued and the decision is against you, you could end up paying big.
Some litigation ends early in a settlement. Your attorney can negotiate this on your behalf, and it can get you the resolution you desire while shortening your time in court and reducing your legal fees. Even if you are the one who has to pay, a settlement could result in you paying less than you otherwise would.
Another possible outcome is to have an injunction issued to put an end to some damaging behavior, such as a company using your trade secrets or your trademark. The process for this is complicated, and you would want to speak to an experienced Phoenix business lawyer before making decisions about how to proceed.
A judge could also issue civil or criminal penalties, depending on the circumstances of your case. Typically, only civil penalties would be applicable to a commercial case, and they could be steep.
Getting a ruling in your favor when you are bringing litigation against another company or business associate could have a big, positive impact on your company. It can award you the money you need to make up for what you lost, it could protect your intellectual property, and it could protect your reputation. If you are the party being sued, having a ruling against you could prove very costly and even devastating. Working with the best Scottsdale business attorney you can find will help you reduce the chances of such an outcome.
Hire a Professional Business Lawyer In Phoenix, AZ
Call the business attorneys at Denton Peterson Dunn if you are being sued or if you need to bring suit against someone for breach of contract, intellectual property infringement, or other legal issues. Our experienced business attorneys represent clients in all types of commercial litigation, and they are committed to helping you get the outcome that will be best for your business. We will pursue all the legal options for getting you the resolution you need. Contact us in Phoenix today to schedule a consultation and learn more about your options.