Expensive, Ongoing Battles: The Mind of a Leader 2 (Enhanced DVD)
Business conflicts not met with resolution can easily become lawsuits. When a business faces a litigation, leaders should be informed of rules, practice, and attorney and court fees. Lawsuits can have a major impact on the future sustainability of a business. Financial detriments may exceed legal fees when a court determines that a plaintiff is owed compensatory remedies for damages. Patent litigation is one of the most costly lawsuits a company can be involved in. Intellectual property violations over patent products often result in millions of dollars in compensation to the suing party.
Most business litigation stems from commercial contract. Breach of contract, whereby one or both parties to an agreement fail to perform in a bargained for exchange, is the most common cause of litigation. Contract liabilities, omission, or failure or refusal to perform can also result in a tortfeasor lawsuit. Tortious grievances are a claim of negligence. If a legal matter is a complaint of a party’s failure to perform according to a duty to a reasonable standard of care during contract, court costs may escalate.
Businesses can also resolve a case prior to hearing. If a dispute is not mediated in an arbitration or negotiated settlement, a plaintiff party refusing for to settle for a lessor sum may sue, and litigation proceedings will follow. Businesses working with outsourcing services or practitioners from a field associated with a high level of risk, malpractice or other professional liability may be implicated in errors and omissions to liability coverage.
Expensive, Ongoing Battles: The Mind of a Leader 2