Litigation Lawyers in Glencoe
In Glencoe, Illinois, commercial litigation is any civil litigation that includes a business transaction. Commercial litigation can come up in essentially any business context.
In Glencoe, Illinois, you should expect any form of commercial litigation to be expensive and confusing. While large and sophisticated companies are well-equipped to deal with civil litigation, and are typically the ones facing it, civil litigation in Glencoe, Illinois can also arise between those who are not nearly as accustomed to handling it, such as individuals and small businesses.
Common Sources of Commercial Litigation in Glencoe, Illinois
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Glencoe, Illinois still have to operate from a physical location. The space from which most businesses operate is typically rented, and the terms of the rental agreement are documented in a contract called a commercial lease. These contracts, like any other, are sometimes breached. When, for instance, the tenant fails to pay rent on time, or the landlord fails to perform required building maintenance, a conflict might arise, leading to commercial litigation.
Sales of Real Estate: If you're buying a house, office space, or a plot of land in Glencoe, Illinois, you're probably aware of the fact that something can go wrong at any stage of the process. Whether the seller's title is defective (they don't directly have the ownership interest that they claim to be conveying to you), or there's a physical defect on the property that wasn't disclosed, commercial litigation might be the only option to resolve the disputes that such problems are likely to create.
Sale of Goods: It's far more prevalent for individuals to buy personal property, rather than real estate, in Glencoe, Illinois. And, like any transaction, the sale of goods can lead to civil litigation if one of the parties feels that the other did not perform under the agreed-upon terms. For example, if a buyer fails to pay the agreed price for the goods, or the seller delivers a late, defective, or incomplete order, there is going to be a conflict. In some cases, these disputes lead to commercial litigation.
Business Loans: Typically, when a business gets started in Glencoe, Illinois, it has to take out a loan from a financial institution. If the business fails to make timely payments on the loan, it's possible that litigation will result.
Breach of Contract: In Glencoe, Illinois, contract law is simple in principle: when someone agrees to exchange value for value (a product in exchange for money, for example), they have entered into a contract, which is a legally-binding agreement. A contract requires at least two parties, and if either of them fails to do what is required of them under the arrangement, they are said to be in "breach" of the contract. If they do not remedy the situation, or the other party does not waive the requirement, a conflict is likely, which might lead to commercial litigation.
How Can a Glencoe, Illinois Commercial Litigation Lawyer Help?
Business owners in Glencoe, Illinois are probably aware of the fact that commercial litigation can always be just around the corner, and just about any business deal that goes bad can trigger it. It's advisable, therefore, to take some simple steps to prepare for possibly civil litigation, so it will only be minimally disruptive to your business, should it happen in the future.
A Glencoe, Illinois commercial litigation attorney can help you on that front. A knowledgeable attorney can advise you of your legal rights and obligations, to avoid litigation in the first place, and can provide you with the best possible chance of prevailing if commercial litigation does arise.