Disputes within a company and between companies are bound to happen. If not properly handled, disputes can destabilize a company or seriously affect its bottom line. Failing to prosecute a business lawsuit could mean lost money damages and other relief. Failing to defend a business lawsuit could result in a costly judgment and penalties. A company on either side of a dispute could incur far more opportunity costs and expenses than necessary by sitting on its legal rights.
Types of business disputes include:
- Breach of contract, which could occur between a business and an individual principal, or between two or more businesses.
- Breach of fiduciary duty by a company or corporation’s director, manager, officer, trustee, principal, majority shareholder or agent. A fiduciary is a person who has the power and obligation to act or give advice for the benefit of another within the scope of the agreed upon relationship. The fiduciary must always act in the best interest of the beneficiaries. When a fiduciary fails to live up to their duty, and damages are a result of the breach, the beneficiaries may file a breach of fiduciary duty lawsuit. Our attorneys have handled cases regarding mismanagement and misappropriation of assets, failure to distribute assets, improper distribution of assets, failure to account, fraud and conflict of interest. Remedies for breach of fiduciary duty are usually in the form of money damages.
- Derivative actions – A derivative action is a lawsuit filed by a company’s shareholder against the corporation’s directors, other shareholders, or a third party for fraud or failure of management. When power within a company is being abused, a shareholder possesses the right to demand that the business correct the problem. If the corporation refuses to take action, the shareholder may file a derivative suit on behalf of the corporation.
- Dissolution actions
- Interference with prospective clients or a business relationship
- Breach of express and implied warranties
- Infringement or misappropriation of trade secrets or other confidential business information
- Embezzlement or misuse of business assets
- Trademark and copyright infringement
- Vendor disputes, including vendor/consumer disputes and vendor/sub-vendor disputes
- Franchise disputes
- Disputes between partners, members, or shareholders
- Disputes arising from mergers between businesses
- Joint venture disputes.
Litigation is one way to resolve a business dispute. Oftentimes, however, parties can reach a compromise before or after filing a lawsuit through a negotiated settlement that can be reached through mediation or other methods of alternative dispute resolution, saving you time and money. However, if it becomes necessary, our legal team will fight for your interests at trial, and represent your business according to your standards. Regardless of what stage your case is in, we will use our business savvy and legal knowledge to assess the strengths and weaknesses of your case. We will then apply that analysis to help you reduce financial risk and achieve the best possible result at the negotiation table, in mediation or arbitration, or in the courtroom.