Business litigation can be costly for all parties involved. Business litigation is oftentimes based on business torts or disputes that arise during the course of business related to partnerships, limited liability companies and closely held corporations. The failure of a member of a partnership, limited liability company or closely held corporation to honor their obligations associated with the entity to other members or the entity itself can give rise to business disputes and litigation.
Business torts differ from breach of contract claims and contract disputes. Business torts generally involve the intent to harm and may involve fraud. Typically business torts include fraud; breach of duty of loyalty and due care; breach of fiduciary duties; aiding and abetting a breach or fraud; intentional interference with contractual relations; usurpation of business opportunities; and negligent misrepresentation.
Being involved in business litigation or the victim of a business tort can be costly to a business and its success. As a result, just as it is important to understand how to respond to a breach of contract situation, it is also important to understand how to respond when a business tort that has occurred. Legal options such as business litigation are available to help the victim of a business tort recover compensation for the damages they have suffered.
Legal options are available to ensure that businesses have the tools they need to conduct business and to enter and enforce contractual relationships and protect themselves from the harm of business torts. Being familiar with the legal options available to help in business litigation matters can help with the success of a business or company.