Understanding the Scope of Business Litigation
In the world of business, trade and commerce, business disputes are not uncommon. Because of this, the legal profession also has specialists like Business lawyers Melbourne or business litigation lawyers Melbourne. Business lawyers are distinct from general litigation lawyers and litigation lawyers Melbourne. The underlying intent of business disputes in most cases is protecting the interests of the company and its intellectual property, their rights, business ideas, and hard work put in to develop the company’s brand.
The cause of business disputes cannot be capsule into one or more concerns. Business disputes can arise between vendors, employees, a competing company, breach of contract, between partners, interference with contracts slowing down production, preventing the fulfilment of contractual obligations, non-compete agreement violation, trademark infringement, false advertising, qualifying or misrepresenting projected results, and so forth. From this, we also see that the potential ground for business disputes is indeed wide and varied. Irrespective of the cause of a business dispute, it needs to be resolved quickly by legal professionals who have the expertise and knowledge in dealing with specific causes of a business dispute.
Role of legal professionals
It is never difficult to find competent business lawyers Melbourne or litigation lawyers Melbourne. But, it is important that you initiate the resolution process early on so that your business continuity is not impacted. Apart from significant expenses, business disputes can consume valuable time which could be used better in furthering your business interests. Once you hire the right legal professional to handle your business dispute, you will save much of the time you may otherwise have to spend negotiating with the opposite party to find a resolution on your own.
Impartial analysis
Legal professionals like a litigation lawyer can impartially analyse the dispute and advise you on the chances of winning the dispute against the opposite party. In some instances, do know that facts may be loaded heavily in favour of the opponent and it would be wiser to arrive at a settlement than get into protracted litigation which you may ultimately lose. You must have strong grounds before taking a business dispute before the courts.
When litigation is the singular option
After examining all other options if you reach the final conclusion that litigation is the only option before you, then you are better off understanding how litigation will progress, irrespective of who wins. There are about 7 steps to any litigation and these are motions, discovery, trial, mediation, arbitration and appeal. The laws governing business litigation are rather complex and involve examining the large volume of documents, investigating evidence, consultation with experts, interviewing witnesses, responding to motions, out of court proceedings and more. Given that most business people have little or no exposure to the legal world, the legal process explained above is itself overwhelming. In many instances, business disputes tend to drag on endlessly and can consume several years before a settlement is reached. But you can save much of the time when you hire a competent business litigation lawyer Melbourne or business lawyers Melbourne.
Below is a brief description of potential business disputes:
Breach of contract
This is a very common business dispute. Nearly every aspect of a business is governed by one form of contract or the other. Your business is successful only when others discharge their contractual obligations in accordance with the contract. When a breach of contract occurs, the consequences can be far-reaching and at times even devastating. When the opposite party is unwilling to accept the breach, litigation is perhaps the only option, but you should not waste time trying to negotiate with the other party.
Employment contracts
Business disputes can stem from employment contracts. The Federal government has laid down several provisions to protect the interests of employees. This relates to wages, work hours, overtime payments, wrongful termination, retirement, superannuation and so forth. At times, employees can also be on the wrong side of the law but convincing them can be pretty difficult. The best way to handle employee-related disputes is to get a competent lawyer to handle the dispute.
Disputes with regard to stock exchanges and/or shares
Business disputes can also arise with regard to stock exchanges and shares. Corporate businesses issue equity shares to the public and these shares are traded in stock exchanges that are in turn controlled by the government and the central bank. Disputes relating to shares can be in the form of breach of agreement with shareholders, breach of fiduciary duties, conflicting or self-defeating interest, dividend payments, excessive compensation, fraud, embezzlement or other illegal actions, denial of access to ledgers or other corporate records.
The remedies available for breach of contract can vary depending on the type of breach and the type of contract. These remedies can also include damages, injunctions or even court orders for dissolution of the corporation in extreme instances.
Automotive business disputes
As the term indicates, this type of business disputes related to automobiles of varying description. These disputes can span issues like unpaid royalties, supply chain-related issues, product liability, intellectual property rights, guarantees and warranties etc.
Force majeure
This is another important legal situation every business should be aware of. Force majeure can also be particularly relevant in the context of the ongoing pandemic. Events outside the control of a party to any contract come under force majeure. Therefore, if a manufacturing facility was ordered closed by the local government due to the pandemic, the owner of the facility cannot fulfil his contractual obligations, but a dispute may be hoisted against him.
