Business litigation tends to be incredibly complex because it covers a wide range of dispute types. These cases also occur in a variety of venues – from state and federal courts to private hearings. It’s important to understand that because of the complexities surrounding business litigation, not all attorneys specialize in every area, which is why it’s important to choose the legal representation that’s right for you.
If your business has become involved in a conflict involving any type, it is essential that you work fast to protect the integrity of your company with the help of a Louisville, KY business litigation lawyer. In order to have a better idea of how the litigation process works with businesses, let’s take a look at the most common types of commercial litigation we handle at Thomas Law Offices.
Common Forms of Commercial Litigation
Business litigation can take on countless forms. Every case requires an extensive understanding of how to prove the abuse occurred and how to investigate the paper trail. Let’s take a look at some of the most common commercial litigation cases we take on.
Employer/Employee Disputes. Employer/employee disputes often begin when a terminated or current employee makes a claim against their employer. If an employee is filing a complaint regarding wrongful termination, discrimination, or severance packages, for example, you may benefit from seeking legal guidance.
Breach of Contract. Broken contracts are one of the most common legal issues a business may face. Unfortunately, dealing with people who fail to perform as promised is something you are likely to have to deal with. While many contract breaches can be dealt with outside of the courtroom, the cases that do end up in court can be brutal.
Fraud and Deceptive Trade. As a business owner, it’s safe to assume you’re focused on retaining and expanding your clientele. If you rely on other businesses to manufacture or provide your merchandise and you receive something poorly-designed, you can use the law to hold that party responsible for failing to fulfill the terms of your agreement.
Security Violations. Security violations may involve market manipulation, insider trading, breach of fiduciary duty, churning, unauthorized trading, or ineptitude. The legal penalties for security violations are often severe and can even lead to jail time.
Anti-Competitive Practices. The Federal Trade Commission prohibits anti-competitive practices. Businesses use illegal practices like price fixing, group boycotts, and trade association rules to prevent or reduce competition in their specific market.
Protecting Intellectual Property. It’s not unusual in competitive industries for some employees to defect to a competing company. When this happens, the situation can become complex because that employee has taken a body of intellectual knowledge with them. Further complications can arise when trying to determine what constitutes a trade secret, whether it was willfully acquired or stolen, and what sort of safeguards were in place.
Business Laws in Kentucky
A combination of federal and state laws regulate businesses of all types and sizes. A few of the most relevant business laws in Kentucky are discussed below.
Antitrust Laws. Antitrust laws ensure a level playing field among businesses by preventing mergers or other tactics in order to remove competing businesses. In Kentucky, it is illegal for anyone to monopolize, or attempt to monopolize with any other person to combine any part of a trade or commerce. If your business has suffered because someone violated this law, you have five years to file your claim.
Deceptive Trade Practice Laws. Deceptive trade practice laws prohibit scams that can include anything from mislabeling food products to trying to hide a used car’s accident history. Kentucky has extensive consumer protection laws designed to protect citizens from negligent sales tactics.
Interest Rate Laws. Interest rate laws limit the amount of interest a creditor may charge without an official contract. Unless there is an agreement in place, the maximum legal interest rate in Kentucky is eight percent. There are exceptions and complexities to this area of law, so it’s likely you’ll benefit from seeking legal guidance if you have questions.
The Benefit of Hiring a Business Litigation Attorney
As we’ve mentioned, and as you can probably now see for yourself, commercial litigation is an incredibly complex area of law. While you may be worried about the cost of outside legal counsel, the benefits are significantly more impactful.
Commercial litigation attorneys are focused on protecting your business’ interests. No matter what legal issue you’re facing, it’s important to have someone who is dedicated to providing timely counsel when you need it.
Another benefit of hiring a business litigator is the time it will save you. You’ll no longer have to worry about confusing legal matters when you have a go-to attorney who is focused on addressing the issues you don’t face on a day to day basis.
Just because you hire a business litigation lawyer does not mean litigation is always the right course of action. A knowledgeable attorney will help your business decide whether it’s necessary to pursue a legal matter in court. If court is not necessary, your attorney will be able to give you advice on the most cost-effective and efficient strategies to resolve any disputes.
Protecting Your Business with a Louisville, KY Business Litigation Lawyer
The health of any business depends on its culture of reliability. The last thing you want to do is violate that trust. If your business is involved in a dispute over money, contracts, management practices, or intellectual property, you may benefit from contacting a Kentucky business litigation lawyer.
At Thomas Law Offices, we have been protecting corporate clients and their interests for years. We are widely regarded as effective litigators for large companies and small businesses. Contact our experienced attorneys today for a free consultation to learn about your legal rights and options.