While many people think business litigation and commercial litigation are the same thing, there are important differences between the two. However, they often overlap in the areas they cover, and most attorneys who practice one will also practice the other. While business law focuses on various aspects of running a business and dealing with forming a company, commercial litigation deals with employment contracts and the sale of goods.
Disputes between a business and its shareholders can be financially devastating and impact the day to day operations of a company. These disputes can affect employee morale and can even be the cause of a business going under. In this blog, we explain the importance of hiring an attorney to handle shareholder disputes.
Fiduciary duty refers to a party's obligation to act in the best interest of another party. For example, a corporate board member has a fiduciary duty to act in the best interest of their company's shareholders. When a party fails to uphold their obligation or duty to another party, it is called a breach of fiduciary duty. The person with the obligation is called the fiduciary, while the person to whom the obligation is owed is called the principal or the beneficiary.
As a business owner, it can be difficult to face legal complications. The expense, time, and stress of these actions can place a great strain on you and your business. Litigation for businesses can be very expensive, and the proceedings will be made public record, which can harm your business and reputation. There may be other options, depending on your situation.
A broken contract can have serious consequences for the victim of the breach, but it also can be a cause for concern to the breaching party. If your contract has been breached by the other party, you may be able to claim damages or other actions to repair the harm caused by the breach. Learn how you can file a claim for a breach of contract.
Businesses can easily be affected by human relationships, and if your relationship with your business partner has taken a turn for the worst, you can expect that it will affect your business in the future. If your business partner holds a considerable stake in your business, however, you may face difficulty in removing them from their position. Find out what you can do to end your business relationship.