Commercial litigations are never anything you want to be involved in at any point in time. However, if you are a business owner, it’ll be almost impossible to avoid commercial litigation completely. Since, you’ll find yourself in a case or two, you may want to familiarize yourself with the various types of litigation cases:
- Breach of contract: To put it simply, business runs on contracts. When a breach of contract occurs, it means that one of the parties involved in the contractual agreement has fallen short on their end of obligations and responsibilities.
- Officer and director breach of fiduciary duty: To transform your business into a corporation you will need to develop a fiduciary duties. The corporate officers and directors will be chosen and are trusted to follow through with the various tasks agreed upon when given the position. Some duties are: obedience, loyalty, care, good faith, and disclosure.
- Disparagement and defamation: This refers to when someone has published a false statement that is harmful to someone else’s business as well as its products and services. Usually the statement has been stated knowingly and has been detrimental to one’s business financially.
- False advertising: Manufacturer misleading, confusing, or lying to consumers to rake in financial benefit and profits.
- Unfair business practices and competition: Although, competition is natural part of business practices, sometimes competitors compete on unequal playing fields by having advantageous or disadvantageous factors on some competitors and not others.
- Trademark infringement: Sometimes businesses accidentally or purposefully use another business’s trademark. This causes problematic concerns can be tackled with a litigation case. A stolen trademark can mean stolen business as well.
After familiarizing yourself briefly with the various litigation case types, you can prepare yourself for what lies ahead as a business owner. If you don’t want to face litigation alone reach out to Roth Law Group at 312-419-9599. We understand how anxiety-ridden your days can be thinking about litigation, so let us worry instead. Who really wants to go through litigation alone? We’ll even offer you a free consultation!