In 2014, small businesses with less than 20 workers make up 89.4% of businesses in the U.S. Small businesses and startup businesses have unique character and bring value to their communities. Because they are such an important part of our economy, small business owners need to make sure they’re doing everything right so they stay open.
When a small business faces legal challenges, the owners have the same options as any large corporation. An area of law we call business litigation may help any business owner—regardless of the size of their company—overcome their legal obstacles depending on the nature of the challenge. An experienced Louisville small business litigation lawyer who specializes in small business and startup litigation can help a smaller company that may be working with a smaller budget.
Among all small companies, there’s no denying the fact that startup businesses often face the greatest challenges. It’s difficult to start from ground zero and work your way up as a new startup company, and any legal setbacks may seem impossible to overcome. We’re here to let you know that with the right legal help, you can your challenges and continue working towards financial success.
If you are a small business owner and need legal representation for any type of legal dispute, Thomas Law Offices can help you. We have experience in small business cases and understand how vital these cases are for your business’ survival and reputation.
What Does Small Business Litigation Entail?
Whether people disagree over money, a contract, property, or insurance, sometimes they need a court to resolve the issue. This dispute can be between two businesses or between a person and a business.
Business lawyers can also help you in the following situations:
- Employees suing due to discrimination.
- A government entity is checking if your business broke any laws.
- Your business is involved in an environmental problem.
- Buying another business or selling your business.
- Collecting unpaid invoices
It’s a good idea to have a small business lawyer to help you with these situations so you do everything you’re supposed to do and don’t make any errors that could cost you your business.
Small Business Contract Disputes
Administrative work is a major part of business. Running a business will require legal contracts to make sure everyone is doing what they’re supposed to be doing. But contracts can be tricky, and you’ll want them to be free of loopholes or details that could be misconstrued and hurt your business. When it comes to the legal side of business, a contract dispute lawyer can help you make your contracts clear and airtight.
Some contracts a small business will handle are:
- These contracts can provide information about compensation, health benefits, and paid time off.
- Small business may use contract financing to use funds from a current or future project as collateral for a loan.
- When finding the right insurance program, you’ll probably want to know exactly what the contract is saying and how the benefits will affect you.
- This contract will list the rules for the landlord and tenant to follow.
Contracts typically include four key elements. There’s an offer, there’s an intent for a legal relationship, a consideration, which is payment, and the other party has to accept. The contract should detail:
- The arrangements of the contract.
- Its duration period.
- Descriptions of what you’re supposed to provide or receive.
- Payment details.
- Important dates.
- Insurance provisions.
Contracts don’t have to follow a specific structure, so you can tailor them to their subject. But this could also leave some room for error, or you might overlook something.
A lawyer will be able to see that the contract meets the following requirements:
- It’s valid.
- The parties involved are authorized to enter the contract.
- There wasn’t any deceptive behavior involved from one of the parties.
- No parties were under duress to sign the contract.
- The contract doesn’t have any confusing language or loopholes.
Small Business Insurance Disputes
Small business owners depend on their business insurance claims to protect them in case of an event where property or product damage occurs, when a natural disaster occurs, or when an event like a pandemic occurs where significant financial loss occurs that is unpreventable. If your business has taken considerable losses in an event of this nature and your insurance company is denying your claim or otherwise attempting to say you are not eligible to receive the money you need to recover, a lawyer can help dispute the claim denial.
Knowing a startup/small business litigation lawyer will help you in the future if you are involved in a legal dispute or want to make sure a contract is legal and clear. While you probably won’t need a lawyer for every issue you come across, it’s a good idea to know who to turn to when you do. You won’t have to spend time comparing lawyers with the issue hanging over your head and you can dive straight in to resolving the issue.
The Kentucky small business attorneys at Thomas Law Offices has decades of experience in protecting small businesses when disputes arise. Our dedicated and skilled lawyers have represented businesses all over Kentucky, Indiana, and Ohio and we know the worth of defending small companies. Don’t hesitate to get in touch with us about your case. We’ll answer your questions and concerns and will discuss your options. We care about helping you and your business continue to thrive.