lex_advoc
04-14-2008, 10:55 AM
There is no guarantee in business. No matter how strategically structured a business was, success in business can hardly be attained in continuity.
These statements may be a general one, but mind you, these had a badge of truthfulness when essential knowledge regarding business torts is not well taken.
In our competitive world, the possibility of a company to face business ruin is extremely high. This holds true, when company executives does not know the business torts that besets its business.
In brief, business torts are a class of claims that can be brought for a wrongdoing in a business relationship. Legally, this concept is different from contractual breach. Generally, business torts relates to the intentional and improper interference with the business interests of another.
There are different types of business torts, the following may be a good illustration:
·Fraudulent misrepresentation
·Interference with contractual relations
·Interference with prospective business advantage
·Unfair competition
·Disclosure of Trade secrets
·Directors' and officers' liability
·Employment litigation
·False Claims Act
·Fiduciary Litigation
·Fiduciary Fraud
·Partnership disputes
·Real estate litigation
·Shareholder litigation
·Securities and securities fraud
·Trusts and estate planning litigation
·RICO (racketeering)
·Unfair business practices
As can be gleaned from the above enumeration, the concept of business tort encompasses all areas that relate to interfere with the smooth operation of business enterprise.
Despite this broad concept, there is one common feature with all the type of business torts. That is, the right of the aggrieved to seek redress from the courts of law and claim consequent compensation in relation thereto.
Professional help can offer prevention and cure in these events.
Indeed, a business tort is a broad concept in itself.
These statements may be a general one, but mind you, these had a badge of truthfulness when essential knowledge regarding business torts is not well taken.
In our competitive world, the possibility of a company to face business ruin is extremely high. This holds true, when company executives does not know the business torts that besets its business.
In brief, business torts are a class of claims that can be brought for a wrongdoing in a business relationship. Legally, this concept is different from contractual breach. Generally, business torts relates to the intentional and improper interference with the business interests of another.
There are different types of business torts, the following may be a good illustration:
·Fraudulent misrepresentation
·Interference with contractual relations
·Interference with prospective business advantage
·Unfair competition
·Disclosure of Trade secrets
·Directors' and officers' liability
·Employment litigation
·False Claims Act
·Fiduciary Litigation
·Fiduciary Fraud
·Partnership disputes
·Real estate litigation
·Shareholder litigation
·Securities and securities fraud
·Trusts and estate planning litigation
·RICO (racketeering)
·Unfair business practices
As can be gleaned from the above enumeration, the concept of business tort encompasses all areas that relate to interfere with the smooth operation of business enterprise.
Despite this broad concept, there is one common feature with all the type of business torts. That is, the right of the aggrieved to seek redress from the courts of law and claim consequent compensation in relation thereto.
Professional help can offer prevention and cure in these events.
Indeed, a business tort is a broad concept in itself.