Although they are contributing largely to the health and growth of the economy, small businesses are prone to unfair deals that can leave them at a serious disadvantage. This is the reason why a small business must have a commercial law litigation lawyer on call. In this article, we are going to talk more about commercial litigation and commercial litigation lawyers. However, before that, let us first talk small business. What is a small business? It is an establishment that has less than 500 employees and less than 7.5 million dollars in assets.
Now that that’s out of the way, let’s talk commercial litigation.
What is it? Is an aspect of the law that covers business transactions that are in dispute. We are talking about contracts that go unfulfilled or agreements that are voided without the consent of the other party. And there are other instances where commercial litigation can apply.
Unfortunately for most small businesses, there is this ongoing belief that they cannot afford a full-blown litigation case in court. Most of the time, they content themselves with settlement that for the most part leaves them at the raw end of the deal. This doesn’t have to be that way. If you are a small business, you should hire a business lawyer who has experience in commercial litigation.
This lawyer can help you in different ways. For one, you can avoid deals that put you at a disadvantage by having the contract read by your lawyer. And even before even signing a contract, you can consult and ask him or her if a business deal that might potentially lead to litigation or would be beneficial to the company. Lastly, the business lawyer can advise the company when litigation might be better than striking settlement deal.
The good thing about this type of lawyer is that there are many of them out there. We dare say that there are more business lawyers and there are criminal lawyers. This is mainly because dealing with businessmen is much more profitable than dealing with criminals. Anyway, if you are in the market for a business lawyer to retain, your first stop should be Google or Yelp, that is, if you do not have a family member or an associate that you can ask for referrals from.
Just like anything else, not all lawyers are alike and there are lawyers that specialize in business law who are better than others. How do you find a good one or how do you tell the best from the good? It’s fairly simple, all you need to do is to ask for references from the lawyer. References are former or current clients that you can ask about the law firm. Any commercial litigation lawyer who is worth his or her salt would be more than willing to share references to you. If not, move on to the next one.
Don’t wait until something happens before you hire a lawyer, do your homework beforehand and find one who is ready to help you. Really, when it comes to doing business, avoiding a bad situation is always better than resolving it.