Every business owner wants to do everything they can to move their business forward. This involved keeping employees happy, solving customer problems, keeping a close eye on the business’ finances, and managing the day-to-day details that make a business tick. If you’re a business owner, one of the last things you need is a wrench thrown into the system in the form of a court case.
Common Business Litigation Cases
Sometimes, all it takes for a business to face a court case is disagreements between partners and shareholders. Other times, it’s scenarios where contracts are broken or trade secrets are shared. With all the different people involved in making any company successful, things can go wrong in several different areas of the business. Some of those instances that can lead to business litigation cases include:
- Investors’ Rights. Investors play an integral role in the startup of most businesses, but they can often be harmed by negligence or fraud by the companies they invested in.
- Business Torts. Most instances of businesses and stakeholders being treated unfairly fall into the business tort category. These can include fraud, trade secret misappropriation, contract interference, misrepresentation, and business defamation.
- Unfair Competition. America’s capitalist structure is built on competition, but it must be under fair terms. Businesses who violated antitrust laws, attempt unfair monopolization or create predatory pricing structures can strip your business of its chance at success.
- Breach of Contract. Forming and signing contracts is a huge part of running a business. When one party breaches the terms both parties agreed to, it’s important that they are held liable for their actions.
- Breach of Fiduciary Duty. Fiduciary obligations involve the treatment of trustees, corporate directors, investment advisors, sponsors, and more. When individuals in certain positions of power aren’t treated with the loyalty they expect, or when fiduciaries have failed to act according to their responsibilities, your business may have a case on its hands.
The Importance of Legal Representation
While spending the time and money to work with a lawyer through your business litigation case may sound like more hassle than it’s worth, keep in mind that the outcome of this case could very well dictate the future success of your business.
Many businesses who opt out of legal representation find that their case, which initially seemed like a quick and painless one, becomes drawn out, eating into their business’ budget and assets long-term. Before you decide whether or not your business needs an attorney, we recommend requesting a consultation and getting an expert opinion. A bit more effort upfront can save you and your business months — or years — of stress and uncertainty.
Business & Commercial Litigation Attorney in Plano and North Texas
Thomas H. Keen is a lifelong Texan with extensive litigation experience dealing with a variety of civil issues. He has represented local and national banks, insurance companies, and private and public corporations in the state of Texas for more than 30 years. Thomas holds the highest peer ratings from Martindale-Hubbell in areas including quality and ethics. Whether you’re seeking legal representation concerning real estate, business transactions, probate, or wills and trusts, your case will receive Thomas’ personal attention.