By L. Charles Grimes, Esq.
Understanding Commercial Litigation: A Lifeline for Injured Businesses and Their Owners’ Families
The term ‘personal injury‘ typically conjures images of accidents, medical malpractice, or product liability issues leading to physical or psychological harm. However, what if the injury isn’t to a person’s body or person in the traditional sense, and instead, it relates to their family business?
What happens when a business, especially a family-owned one, suffers harm or injury that impacts the livelihood of its owners and their abilities to protect and “feed” their families as before the injury? That’s where commercial litigation steps in, acting much like a personal injury lawsuit but for businesses, seeking recovery and protection for the company and its owners and employees.
What is Commercial Litigation?
Commercial litigation is a broad term encompassing legal disputes related to business conflict resolution, whether outside or inside the court. These conflicts can arise from broken promises, business bullying, or mistreatment. These can involve one or more breaches of contract, partnership disputes, and even business torts, such as civil theft of business assets, misappropriation of business property, deceptive trade practices, or unfair competition. There are many different types of business torts under the laws of North Carolina.
While most people are familiar with personal injury cases that involve compensating individuals for their losses, it’s crucial to understand that businesses, too, can be ‘injured’ and deserve justice. When a company is harmed due to the illegal actions of another entity, the consequences can extend beyond financial loss, impacting the personal lives of business owners, especially in family-owned businesses, where every dollar counts, and owners’ and employees’ jobs can be on the line.
The Intersection of Business and Personal Harm
In family-owned businesses, the line between personal and business affairs often blurs. Often, the company isn’t just a source of income; it’s a legacy, a passion, and an integral part of the family’s life. It’s critical for all of the employees’ families too! Therefore, when such a business is harmed, the effects ripple through one or more families, causing emotional and financial distress, much like a personal injury.
The similarity between personal injury litigation and commercial litigation on behalf of an injured business lies in their core objective: to obtain compensation for the harm caused and restore the injured party as close as possible to their position before the injury.
In personal injury, the damage is often physical and psychological, leading to medical bills, pain and suffering, and loss of income. For commercial litigation, the ‘injuries’ may involve significant financial losses, broken agreements, lost business opportunities, loss or harm to business assets, and damage to the company’s reputation, among many recognized injuries under the law.
These losses can also extend into the personal realm of a family-owned business. For instance, financial loss can lead to lost income, inability to pay the family bills, and a much lower quality of life. Further, the stress involved can cause physical and health issues, psychological distress, and other harm similar to that experienced in personal injury cases.
The Role of Commercial Litigation Lawyers
Just as a personal injury lawyer fights for an individual’s right to compensation after an accident, a commercial litigation lawyer seeks justice for a business that has been harmed. Trial attorneys who litigate in the commercial arena are skilled in navigating the complexities of business law and are dedicated to ensuring their client’s rights are protected.
Commercial litigation trial lawyers work hard to understand the unique aspects of your family-related business, whether it does a multi-billion dollar of year business or it is a tiny startup business with dreams of growing more prominent, including the nature of the harm such large or small companies have experienced, and how it has personally affected the owners and their families. Commercial trial attorneys can provide valuable legal advice, devise a strategic approach, and represent such businesses and their owners in court, if necessary, to seek rightful compensation.
In conclusion, while personal injury and commercial litigation differ in their specifics, they share the same underlying principle: providing justice and compensation to those who have been wronged.
If your family business has been ‘injured,’ know that you have legal options, similar to personal injury victims. Reach out to a skilled commercial litigation attorney in Mooresville, NC, such as the attorneys at Grimes Yeoman, PLLC, who can help you navigate this challenging time and fight for the justice your business — and your family — deserves.
For additional information on personal injury and commercial litigation, you can refer to Justia, a trusted legal directory providing comprehensive resources in these areas of law.
This blog post is intended for informational and educational purposes only and does not constitute legal advice. The situations and facts discussed illustrate what the author believes to be sound and wise thinking, and they may not represent the specifics of your case. You should always consult with a legal professional about your unique circumstances.
Again, the Grimes Yeoman PLLC attorneys are here to help. Call us today if you believe you or someone you care about has suffered harm or an injury. Knowing your rights and having peace of mind can be as important as anything else, regardless of whether it involves a personal or business injury. Help may be only a simple phone call away.
Recent Comments