Every business strives to achieve growth without running into legal complications, especially when it’s something as costly and tarnishing as a commercial dispute. Avoiding them can be tricky since it’s a form of business litigation that can sprout from various problems – from intellectual property infringement, contract violations, and more.
SEM businesses and fortune corporations are vulnerable to these commercial disputes, that’s why it’s crucial to understand what it entails as a preventive measure, as well as having rudimentary knowledge on the best course of action when the going gets tough.
What is a Commercial Dispute?
This refers to a form of transaction that allows distressed parties to address their differences. It’s a resolution that is often treated as the organization’s last resort, one that aims to solve the following issues:
- Contract breaches or any other contractual disputes;
- Competition disputes;
- Business disputes;
- Professional or commercial negligence;
- Outsourcing disputes;
- Construction disputes;
- Partnership disputes;
- Patent and Intellectual Property disputes;
- Negligence claims;
- Shareholder litigation;
- Debt collections;
- Consumer claims;
- Misrepresentation claims;
- Body Corporate disputes;
These are some of the common problems that can range from simple to complex, but either situation demands the presence of a seasoned commercial litigation solicitor. Not to mention, poor handling of the case can ramp up your expenses and cause needless delays on both ends.
The Basics of the Commercial Litigation Process
Every litigation claim is unique, but it often involves a rigorous process that is categorized into the following:
When the commercial dispute demands further action, the next step is to conduct an initial investigation of the case. This involves gathering all forms of evidence that can add valuable weight to your case, though this is the ideal time to resolve the issue with the other party.
If all options are exhausted, you need to prepare formal letters to the aggrieved parties to complete the claim.
- Case Preparation
This focuses on the nitty-gritty details of the case, which should be handled by a licensed solicitor. This is the stage that involves crafting a response to the initial letter, along with the disclosure of necessary documents and other pieces of evidence that will build your case.
The last phase is all about preparing for the trial, so your company will need to work closely with your solicitor to strengthen your case’s position.
The Bottom Line: An Overview on Commercial Dispute and How to Prepare for Business Litigation
Experiencing commercial disputes can be a time-consuming and expensive process. When the situation spirals out of control and the court starts to get involved with the case, having a commercial litigation attorney as your representative can make all the difference in your business litigation.
Their expertise should guide your next decision when moving forward, but more importantly, they can also reduce the potential financial losses your business will suffer following the dispute.
How Can We Help?
If you are looking for commercial contract lawyers in Brisbane, contact our team at GLG Legal today! We can help you navigate through the legal complexities of real estate investing for your business, so get in touch with us today and see what we can do to simplify the process.