Jeremy Schulman: A Business Owner's Guide to Commercial Litigation
Each time a business encounters a lawsuit, it could be a stressful time for anyone involved. You intend to avoid becoming ensnared in litigation as much as possible, which is why it's important to know the nature of commercial litigation and how it differs from personal litigation. In the event that you operate a business, you're certain to encounter the main topic of commercial litigation at some point. For that, seasoned commercial litigation expert Jeremy Schulman will explain what commercial litigation is and why it matters to your business.
What is Commercial Litigation?
Commercial litigation could be the legal procedure that relates to commercial contracts and business-related disputes. It is also referred to as "business litigation." Commercial litigation often deals with intellectual property, personal injury, employment law, and contract law.
Basics of Commercial Litigation
Commercial litigation is really a term that encompasses any lawsuit involving a business. Not everyone is acquainted with the term, which can result in confusion; many individuals assume that it refers to lawsuits between businesses or commercial law. To be clear, commercial litigation is not limited to just disputes related to the law.
Differences Between Personal and Commercial Litigation
Personal and commercial lawsuits are completely different in many ways. Commercial litigation, like, is usually shorter-lived than the usual personal lawsuit. There's also a greater likelihood that the opposing parties will settle out of court. Additionally, while winning a personal lawsuit can lead to being awarded money damages, winning a commercial lawsuit usually means you obtain possession of something or get access to an asset. These differences ensure it is very important to businesses to understand what commercial litigation is and how it differs from personal litigation.
Not a Small Matter
Commercial litigation is a kind of dispute that arises from the partnership between two business entities. It may also arise from disputes between businesses and consumers, but this information will concentrate on commercial disputes. Commercial litigation falls under general civil law and isn't criminal. The principal goal of commercial litigation is to protect one party's rights or property.