Commercial litigation is an area within the legal system that concerns itself with disputes that involve companies and businesses. In many cases the disputes arise over financial issues or issues involving property as well as contractual disputes. A lawyer who deals with commercial litigation on Long Island is a business lawyer.
The primary focus of commercial litigation is to attempt to settle disputes without having to do it in court. One area of commercial litigation on Long Island is sales which include land acquisition and company mergers. At times when one company is planning to purchase another company the company being bought out may have financial issues, in this case the lawyer will assist with the merger; reviewing employee contracts, stock sales and other issues to ensure that the sales is following all the proper legal guidelines.
Another area of commercial litigation is assisting with the drafting of business partnerships. A partnership needs to have the ownership rights of the parties, the duties of the parties and the financial obligations of the partners established. The partnership agreement will lay down the income distribution to the partners and in the event one or the other partners decides to leave the business.
Another common area of commercial litigation is drafting a contract between an employee and an employer. Employment contracts often have confidentiality clauses and clauses which involve keeping company trade secrets for the products manufactured. In the event the employee is involved in new product design and development there are often clauses regarding ownership of the designs produced by the employee during his or her employment. In the event any of the clauses that have been written into the employments contract are broken the company reserves the right to prosecute the errant employee in court.
As every effort is expended to resolve issues without having to go to court many business contracts include an arbitration clause. This clause means that when the business cannot resolve a contractual dispute or disagreement that the case is heard by an arbitrator. By putting the dispute up for arbitration the parties avoid having to spend a great deal of time and money by taking the issue to court. The arbitrator is made privy to both parties’ side and attempts to arrive at a mutually agreeable solution.
A vital part of commercial litigation is insurance defense. As companies carry insurance in the event they are sued, the company turns it over to the insurance company; depending on the insurance claim the insurance company may engage the services of a business lawyer.
The attorneys at Jaspan Schlesinger LLC provide commercial litigation on Long Island, assisting their clients in reaching their business goals. The services are offered to businesses of all size; from family owned to large corporations.