Common Commercial Disputes and How To Address Them
Running a business can be the fulfillment of a life-long dream. Perhaps you’ve always wanted to be an entrepreneur and finally launched a business. Alternatively, you may have gone to college to prepare for business leadership opportunities and secured a position as a business executive. Whether you’re a business owner or executive, you’ll deal with critical business decisions that will shape your company’s operations.
Unfortunately, you may also find yourself dealing with commercial disputes. You may have disagreements with contractors hired to perform specific tasks. You may also face lawsuits from employees or clients. Let’s explore some common commercial disputes and how you can deal with them.
Contract Disputes
Suppose you’re hiring a contractor to complete tasks for your business, such as repairing a critical system inside your building or developing a software program for your company. You must clarify expectations and responsibilities whenever you hire contractors to perform tasks.
Working with a business attorney is an excellent way to prevent conflicts with contractors. Have your litigation lawyer review all business contracts or draft contracts for you. Lawyers are legal experts with several years of postsecondary training. They receive focused training in their legal specialty while earning their law degree, ensuring they’re familiar with applicable case law and understand how to represent and protect their clients’ interests. Your litigation attorneys can help you navigate the process of setting up your business, prepare employee contracts, and evaluate leases and other legal documents you may sign. They’ll identify potential loopholes or legal risks you’re assuming and can suggest ways to revise the contract language to mitigate your risks.
Although working with an attorney can protect your legal rights, you may still have issues if contractors or employees don’t fulfill their contractual obligations. Using custom pocket folders is an excellent way to store evidence when issues arise. You may create folders outlining disciplinary steps taken with contractors or employees. You may also use custom folders to contain written statements, photographs, and other documents related to the situation. You’ll look professional using custom folders to present essential documents if you need to discuss the matter with the police or other parties.
Intellectual Property Disputes
Intellectual property encompasses copyrights, trademarks, patents, and trade secrets. Copyright applies to movies, music, and books, and copyright infringement involves using these items without consent. It differs from plagiarism because the violation is against the copyright holder, which isn’t necessarily the author.
When someone violates your copyright, you can sue them for damages. Famous cases have led to multi-million dollar judgments against those found guilty of infringement. For example, Marvin Gaye’s family alleged the song “Blurred Lines” copied Gaye’s hit “Got to Give It Up” and won a $5 million judgment against Robin Thicke and Pharrell Williams.
Trademark infringement involves using a company’s logo without consent, inferring a relationship where none exists. Suppose a company uses a logo that’s very similar to yours. Patrons may be confused and think they’re a franchise or your business partner. It could damage your company’s reputation if that business provides defective products or services.
Companies and inventors take out patents when they create new products or processes. The patent protects their financial investment and keeps other companies from stealing their creation or process. Patent infringement cases arise when people or companies attempt to steal patented products or processes and use their theft to profit.
Trade secrets include a company’s confidential financial and business information. Product formulas, such as the recipe for Kentucky Fried Chicken, qualify as trade secrets. Companies can require employees to sign confidentiality agreements if they have access to sensitive information and pursue legal action if employees disclose trade secrets to competitors.
Common commercial disputes include contract disputes and intellectual property violations. Working with a litigation lawyer is an excellent way to ensure you take legal steps to protect your company from commercial disputes.
