Typically, individuals and businesses come across the term “commercial litigation attorney” when searching for representation to resolve a business dispute – but what is a commercial litigation lawyer? Well, to understand the phrase, you first have to break it down into its parts. “Commercial” law, otherwise known as business law, has to do with the rights and obligations of persons and businesses engaged in commerce. Therefore, commercial litigation is any dispute which may arise in a business context, which usually leads to court proceedings.
Because commercial disputes occur in business settings, they typically involve one party’s claim that another party failed to properly do something they promised to do. These promises are typically set forth within a contract. Contracts entered into by businesses routinely involve: leasing and buying property/businesses; supplying goods; and providing services.
Although the search for a commercial litigation attorney is most common after a disagreement occurs, these types of lawyers serve several functions: pre-dispute and post-dispute. In the pre-dispute setting, a commercial litigation attorney advises a client regarding potential legal pitfalls and points of future litigation. By receiving early initial input, individuals and businesses can save significant time and money in future court costs. In a post-dispute setting, commercial litigation attorneys advise clients as to potential remedies, or defenses, they may have relating to the dispute. Moreover, a savvy commercial litigation attorney should advise the client not only as to the legal aspects, but also the business impact of in-court proceeds. As such, given the potential pitfalls that can occur in a business setting, it is extremely important for parties to enter into well drawn-up contracts in order to minimize potential future lawsuits. Not only is litigation time-consuming, it can be costly.
Ultimately, if you have a business, or participate in any business dealings, you will need a commercial litigation attorney on call for consultation. This is regardless of size: whether your business is a brand new start-up, or a Fortune 500 company, you will need a good commercial litigation attorney, not only for in-court battles, but also to preemptively avoid those suits.