Commercial Litigation Lawyer Representing Clients During Financial Tort Business Disputes
Operating any business inevitably means you are exposed to the possibility of being sued for a variety of reasons. Whether your business has unexpectedly found itself in the middle of a stakeholder dispute or on the receiving end of a financial tort, there is no reason to try and fight it alone when so much is at stake.
One of the legal areas our firm primarily focuses on is helping businesses through complicated financial torts. We help businesses of all sizes to steer around potentially catastrophic disputes and provide strategic financial advice to protect the business from a similar situation in the future. Here are a few important facts about business financial torts and what you can do to fight back.
What Is Financial Tort in a Business Setting?
A tort is a wrongful act that was (in this case) committed against a business entity and resulted in financial damages to the party that was allegedly affected. Many situations can trigger a financial tort against your business. These often result in potentially catastrophic disputes that may affect the financial health of any business.
Suppose your business is the target of a lawsuit from a former client who is claiming your company breached the contract they had and such breach resulted in financial losses for that client. The client feels like the actions of your business were tortious and damaging to their ability to make profits, and is now seeking compensation. In this situation, you will likely need a lawyer to help you navigate this lawsuit and minimize your losses in the process.
What Are the Most Common Financial Torts Businesses Are Exposed To?
Commercial torts can include a wide variety of issues impacting the ability of one’s business to keep its integrity while staying profitable. Some of the most common disputes businesses may face include breach of contract, fraud, trademark disputes, false claims, and interference with business practices, to name a few.
Most of these involve some degree of bad faith or unfair business practices that affect the plaintiff’s ability to do business and protect their bottom line. When your business is facing a lawsuit for these or any commercial litigation issues, your ability to maintain your business revenue, reputation, and industry relationships can be severely jeopardized.
What Should I Do If My Business Is Being Sued Over Financial Matters?
If you have just learned that your business is the target of a lawsuit, the most important steps you can take is to keep a clear mind and reach out to a lawyer right away. It may be tempting to simply contact the person suing you or their lawyer to try and negotiate a resolution, but it may not be in your best interest to do so right away.
Make sure to keep a record of all emails and documents that may be related to the case, and make sure to observe any deadlines for responding to the complaint. If you have employees, it may be best to inform them of the situation so that they know not to respond to any questions about the case and refer them to your lawyer.
How Can a Financial Tort Lawyer Help Me Avoid a Business Crisis?
A financial tort lawyer focuses on protecting your business interests while resolving disputes in the least disruptive manner to your business bottom line. When you work with a law firm such as Financial Litigation, we will employ every strategy we know to help your business bounce back from a difficult situation.
Because our main goal is to protect the financial health of your company, we seek to resolve disputes through negotiation and arbitration, but we will stand up for your company and take the case to court when an agreement cannot be reached. We understand a lawsuit against your business can easily mean a major financial crisis, but with a strong legal team on your side, it doesn’t have to. Reach out to our Toronto office at 416-769-4107 to see how we can help.