If you are involved with a company as an executive, then it is important that you understand what a commercial dispute is, and how you should handle one when it arises. Working with an attorney who is experienced in commercial litigation is an extremely important first step to take, whether or not you are certain that the situation will ultimately result in legal action. Commercial disputes, while civil in nature, can have serious impacts depending on the outcome, and could result in existing contracts being disbanded, involvements, ownerships, and stakes in a company being drastically changed, and more.
Even though commercial litigation is a civil case, not just any civil attorney will be able to help you with your situation as well as an attorney who focuses on business law. From interpreting contracts to settling issues about shares, fiduciary obligations, and other financial issues, your business attorney will be a significant asset while you are attempting to reach a resolution that benefits you as well as the company, shareholders, and all others with a vested interest. Attorneys like Wade McClure – commercial litigation lawyer in Dallas, focus specifically on business law so that they can provide their clients with the most experienced and focused support available for their situations.
Take a look below to learn about a few common examples of commercial disputes.
Class Action Lawsuits
A class-action lawsuit happens when a group of consumers all suffer from the same injuries or damages, caused by a single defendant. This could be something like a credit card information breach, a faulty product that caused injuries, a product that did not work as advertised, or any other case where a consumer did not get the outcome that they expected when purchasing and using a product or service.
If your company is facing a class-action lawsuit, you must work with an attorney who is experienced with these types of legal cases. You will be defending your business and activities against many different people, and if you are forced to pay all alleged victims then the penalty could be permanently debilitating for your business. An experienced business law attorney in Dallas can help you understand your options and seek the best possible outcome.
Contract disputes may be one of the most common forms of commercial disputes, simply because most, if not all, businesses are run on a series of contracts between partners, businesses and consumers, businesses and distributors, manufacturers and businesses, and any other partnership that exists in the supply chain of the business operations.
It is the hope of most businesses that a contract dispute is settled before legal action is necessary, but in many cases, this is not the way that it works out. In these cases, it is important that you work with an attorney who is able to read your contract and understand all aspects of it, prove how the agreement was either breached or how you have upheld your part of the agreement and the proper steps towards remedying the situation.
Any Minor or Discrete Business Disagreement
Whether your situation is major or minor, the most important thing that you can do before moving forward is to discuss the circumstances with a business law attorney and understanding how they would work with you if you were to hire them as counsel. Seemingly minor issues can quickly spiral if there are any missteps in the process, and in order to protect your assets and your business, it is important that you do all that you can to minimize these risks.