If your organization has been in business long enough, it’s inevitable that some form of business dispute will arise. This is particularly true in the financial sector. To be sure, 2017 data released by FINRA, the Financial Industry Regulatory Authority, showed there were over 2,200 consumer and intra-industry arbitration cases filed in the United States. But regardless of your company’s niche or industry, disagreements are bound to happen.
Some disputes can be resolved without legal representation. For others, it’s mandatory for the future of the company. If you or your organization is embroiled in a business dispute that can’t be resolved out of court, work with a business dispute lawyer in Vero Beach to help with your case.
The stakes involved in litigation can be very high and potentially force a company into bankruptcy. A business’ ability (or inability) to protect itself, its employees, and its financial interests during a business dispute may have consequences that last far into the future.
The umbrella of commercial litigation encompasses almost every type of business dispute. Among others, this can include:
- Breach of contract
- Joint venture or partnership disputes
- Class action suits
- Intellectual property
- Business torts
- Allegations of breach of fiduciary duty and
- Shareholder disputes
Possible Causes of Business Disputes
There are many types of litigation when it comes to commercial disputes. One of the most frequent is breach of contract. In general, a breach occurs if one or more parties involved in the dispute fails to perform under the contract’s terms. The non-breaching party may be eligible for a significant amount of monetary damages if they have a strong case.
Florida is one of the many states that has adopted the Uniform Commercial Code. It governs the various types of business disputes as they relate to commercial contracts. There are contractual rules that outline numerous transactions such as sales, leasing, banking, letters of credit, etc.
Partnership disputes can arise when there is a lack of consensus regarding the future of the company or what is in the organization’s best interest. Occasionally, partners can’t reach an accord with compensation or leadership positions.
Commercial business to business disagreements arise when the actions of one business infringe upon another business or are deemed unfair in the marketplace. A company’s deceptive practices can also be a catalyst for B2B disagreements.
Another form of a business dispute that is quite common involves non-compete agreements. Organizations asking employees to sign a non-compete agreement are becoming more commonplace. Employees are prohibited from engaging in a similar business practice for a certain period of time. Attorneys can help organizations enforce such agreements or conversely, work with employees who signed agreements that are too broad or unenforceable.
Contact Us Today for Help
Let the knowledgeable attorneys at Vocelle & Berg, LLP put their years of experience to work! We will help ensure you take the right course of action when resolving your business dispute. We have a genuine interest in protecting your company so it can be as successful as possible. Reach out to us today.
Resource:
finra.org/arbitration-and-mediation/dispute-resolution-statistics