Commercial litigation could involve several different types of disputes in the world of business. Asking for the assistance of competent commerce lawyers can help you protect your interests and assert your rights. Formal business agreements or governing documents go a long way in minimising the likelihood of confusion and stress. Business agreements help impart structure to commercial relationships and set out procedures to be followed in the event of disputes etc. The governing documents provide excellent guidelines for different situations.
Business contracts help specify the issues that had been agreed between the shareholders, directors and partners and so on. Such agreements also help provide clarity by mentioning timeframes, payment schedules, rights and responsibilities. All those who have a controlling stake in the business have a precise record of what they agreed to and in addition, the agreement will also spell out the conditions if you wish to make an exit. Most importantly, a legal business agreement is a document that is recognised by Australian law and courts.
Dealing with commercial disputes can be a stressful and daunting experience. You are likely to encounter legal jargon and technical phrases which may prove difficult to understand. An experienced commercial lawyer will help ease your burden and invest their best effort to obtain a favourable outcome for your unique case.
Commercial litigation could arise under several different circumstances. Some of them are described below:
- You may owe money to or be owed money by a corporate entity
- Commercial disputes may involve contracts or agreements. Contracts could include loan, insurance, franchise, lease and property etc
- Disputes between people based on agreements, partnerships, trusts and so on
- You may also decide to opt for commercial litigation with respect to goods or services purchased
Shareholders, directors or partners may also decide to resort to legal recourse if they find that they are unsure of their rights under the governing documents of the company, find that they are unable to do what they want to do or others are not doing what they should do (or agreed that they would do). Circumstances often change over time and any one of the above mentioned scenarios could arise.
Commercial litigation often involves stringent deadlines and time limits, so it’s best to deal with such matters without procrastinating remedial action. You can also ask for legal guidance in matters involving bankruptcy, notice of defect, director’s penalty notice or statutory demand. Expertise in commercial law covers multiple fields related to energy and resources, finance, competition, shareholding and control, dispute resolution and tax litigation and so on. The underlying objective of requesting legal assistance is to ensure that you are protected under Australian law and that you are able to assert your rights.