Commercial litigation involves legal disputes between businesses, often related to finance, property, and contracts. Business attorneys help resolve disputes and handle areas such as real estate sales, partnerships, and employment contracts. Arbitration and insurance defense are also important aspects of commercial litigation.
Commercial litigation is an area of law that concerns legal disputes involving businesses or companies. Disputes often involve financial and property matters as well as contractual disagreements. An attorney who helps businesses and other related parties in business disputes is a business attorney.
The driving force behind commercial litigation is trying to resolve disputes as they arise without going to court. One area of business disputes handled by attorneys is the sale of real estate involving land acquisitions and company mergers. Often, when a company is planning to buy another company, the company being bought may be in financial trouble. A commercial attorney will help with the merger by reviewing stock sales, negotiating employee contracts, and making sure the sale meets legal guidelines.
Another area of commercial litigation is the creation of business partnerships for two or more owners of a business. A partnership can establish property rights, partner duties, and financial obligations. The contracts clarify what percentage of the income the partners and other owners are entitled to in the event that a partner decides to leave the business.
Commercial litigation also involves drafting contracts to clarify the agreements between employer and employee. These agreements may involve the retention of business secrets such as confidential information and company trade secrets for products. Some employees are also required to sign contracts involving ownership of new products made by employees while employed with the company. Most companies put their emails and memorandums in the confidentiality agreement. By entering into a contract, companies have the right to prosecute employees in court if they provide information to a new employer about insider products and information.
Some business contracts include an arbitration clause, which means that if the business cannot resolve a contractual dispute or disagreement, the business owner can have the case heard in arbitration. By taking the matter to arbitration, the parties forego a court hearing, which may require additional time and money. An arbitrator listens to both sides’ sides and then tries to find a solution that is acceptable to all.
Insurance defense is also a vital part of commercial litigation since most companies have insurance in place in case an employee, customer or other company sues the company as a defendant. When a person or other business sues a company, the owner or representative of the company must turn it over to their insurance agent. The insurance adjuster retains a business attorney depending on the skills needed to represent the insurance company and the business.
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