Estimates suggest that a company making $1 million in revenue will end up paying $20,000 in lawsuits every year. These can range from small pay disputes to much larger intellectual property suits. No matter what the issue, having a commercial litigation attorney in your corner can help protect you from any major losses.
A legal battle can hurt your brand in the eyes of even your most loyal customers. An attorney who knows what to look out for can keep you from making the missteps that could lead to a major suit. Having someone to keep you out of court can ensure that you have the time to stay focused on the work you love to do.
Whether you’re in a legal battle or not, hiring a commercial litigation attorney will protect your assets for years to come. Here are three reasons to have one in your corner.
1. A Contract Was Breached
If you’ve made a deal with another business or a service provider, it’s always important to have a contract. This allows both parties to know what’s expected and know when they’re violating the terms.
Without a contract, it’s nearly impossible to register a breach. Even with a contract, filing a breach could lead to months if not years of arbitration. Hiring a commercial attorney will ensure that you’re not stuck dealing with this suit while you also need to be working on your business.
A strong legal advisor will keep you from breaching contracts in the future.
2. An Employee Mismanaged Funds
If you’re trying to seal a deal and you’ve suddenly found that the company you were about to deal with has cold feet, you need to sit down with them. When one company chooses to partner with or to negotiate with another company, they’ll often go through their history to see what, if any, red flags appear.
If they find that the financial responsibilities of your company have been mismanaged, it could seem suspicious. Bringing that person on to a new company could be a liability.
You might need to separate that person from your affairs and sue them for damages.
3. Dealing With A Lawsuit
If your business is sued for violating a contract or some kind of copyright infringement, you could end up with a massive headache. You could be ordered to halt production of your most important products or cease providing services that are at the core of your company’s structure.
Letting a commercial litigation attorney handle your affairs will keep you from ending up in a sticky situation. The partners at Shakfeh Law are experts at keeping companies working during a lawsuit.
A Commercial Litigation Attorney Can Save You Money
By avoiding the kinds of suits that can disable the most important parts of your company, your bottom line will continue to grow even under stress. Your attorney will guide you through dealing with legal issues and can ensure you don’t make the same mistake twice.
If you’re interested in other ways an attorney could help your business, check out our guide to legal counsel for small businesses.