What is the spectrum of business disputes that commercial litigation covers?

Commercial litigation spans numerous types of business disputes. It is an umbrella phrase that applies to all sorts of business related conflicts and issues. A protracted business dispute has the potential to disrupt your day to day business operations and have a negative impact on your individual livelihood. Don't let this happen to your business. With the help of an experienced attorney, you'll be able to pursue commercial litigation and hopefully obtain a favorable result. Oftentimes, the mere threat of litigation is enough to force the other side's hand.

One of the most common business disputes that commercial litigation covers is the contract dispute. If one party fails to deliver goods or meet the terms of a written contractual agreement with another business or an employee, corporate attorneys are often needed to pursue commercial litigation. Breach of contracts occur every day in the United States. The remedies that the non-breaching party can pursue will depend on the amount of money lost or severity of the injuries suffered as a result of the breach.

Attorneys often pursue commercial litigation on a business's behalf when tortious interference exists. A business tort is a claim for either negligent or intentional wrongdoing within a commercial relationship. Such claims are based on either common law or statutes. The elements of torts usually vary from state to state and most require that the plaintiff prove the existence of a contract or an economic relationship.

Other business disputes that result in commercial litigation include anti-competitive behavior and unfair business practices covered under antitrust laws. This type of litigation can be brought by businesses or consumers. Businesses often pursue commercial litigation when competitors violate the Racketeer Influenced and Corrupt Organizations (RICO) Act. While this was originally passed to combat organized crime, it is broadly applied in today's business world. The Act states that it is unlawful for a person or organization to manipulate a business to conceal, engage in or benefit from racketeering activities.

Commercial litigation covers disputes that arise under the Uniform Commercial Code (UCC). This governs all commercial transactions including contracts for the sale of goods. When disputes arise regarding the passing of these goods from a seller to a buyer, commercial litigation is often required.

Commercial litigation also covers breach of fiduciary duties and conflicts of interest in corporate disputes and challenges to mergers and acquisitions. Other areas of coverage include non-compete agreement disputes, partnership disputes, collections lease disputes, distribution and licensing disputes and business dissolutions.

What are the corporate obligations related to federal unemployment tax?

Employers must pay both state and federal unemployment taxes according to a variety of factors. These taxes are used to fund the unemployment compensation benefit programs at the state and federal level. The proceeds are pooled to pay workers who lose their jobs due to no fault of their own. The focus of this article will be on corporate unemployment taxes paid to the federal government.

The amount of federal unemployment taxes that employers pay is determined by factors like the business type, its age, the amount of money that they pay their employees and the number of unemployment claims filed against them. The Federal Unemployment Tax Act (FUTA) forces a payroll tax onto businesses according to the wages that they pay to their personnel. While the burden of other payroll taxes is shared, the FUTA tax must be paid solely by the employer. This money is not withheld from employee wages.

In order to determine if your business must pay the FUTA tax, it must meet one of two conditions. Wages paid must have totaled a minimum of $1,500 to employees during any quarter. Or, the business must have a minimum of one employee on any day in each of 20 unique calendar weeks. These weeks do not have to be consecutive nor does the single employee need to be the same person. The federal government has defined a calendar week as seven straight days starting on Sunday and ending on the next Saturday. If a business meets either of these conditions, it will be required to pay the FUTA tax for the full calendar year as well as the following calendar year.

The FUTA tax is applied at a flat rate on the initial $7,000 worth of wages paid to each employee. When an employee's earnings for a single calendar year surpass $7,000, the business has no additional FUTA liability for that employee throughout the remainder of the year. This FUTA tax rate, applicable to the first $7,000 of wages per employee, is 6%.

It is worth noting that a business can typically claim credit versus its gross FUTA tax owed to reflect their unemployment taxes owed to the state. If the business pays all of its state unemployment taxes in a timely manner and ahead of the FUTA due date, it will be permitted to claim a credit worth 5.4% of the federally taxable wages. This can prove to be quite helpful as it can decrease the FUTA tax rate to merely 0.6%.  https://www.facebook.com/pages/Martin-Russo-Attorney/1531397160408391

Who Will Pay For The Losses And Expenses Of Commercial Lawsuit?

If you are a plaintiff or a defendant in a commercial lawsuit, you face the prospect of paying for an array of expenses and possibly even losses. The typical business interacts with a number of diverse parties on a daily basis. From customers to merchants, vendors and contractors, there's plenty of potential for things to go wrong. A business that plans for such scenarios will take out a commercial general liability insurance policy.

Liability insurance protects businesses against claims of bodily injury, property damage, slander, libel and plenty of other legal attacks concerning the business's activities. This type of insurance policy will protect businesses from a number of angles. Its indemnity will cover the costs associated with the business owner's legal defense. Many small business owners have actually found that certain clients require that the business has a general liability insurance policy in place before they'll sign a contract. So businesses that plan ahead for potentially damaging unforeseen circumstances and secure liability insurance will actually boost their chances of recruiting customers.

Yet the crux of a liability insurance policy is to protect the business in the event that unexpected events threaten its viability. The policy provides the financial resources that are necessary to keep the business operational no matter what type of lawsuits are presented by customers, vendors, merchants or other parties. In short, liability insurance offers financial protection against risks that even the most careful business owner can't avoid. The truth is that we live in an overly litigious society. People are willing to sue other parties, especially businesses, with little evidence in the hopes of finding a sympathetic judge or a business that doesn't want to bother with the complexities and annoyances of the legal system.

A liability insurance policy will also pay for the costs of both defending and investigating a lawsuit or claim. It will cover the associated court costs, police report costs, the premium on court-mandated bonds, witness fees and attorney's fees. Additionally, the insurance policy will pay for all reasonable expenses that arise when the business owner is asked to defend himself. For example, he'll be provided with the income that he loses by spending a day or two in court.

Most importantly, a liability insurance policy covers both judgments and settlements that are produced from covered suits. If your defense is not successful, the insurer will even cover the interest that is to be paid on the judgment as well as the injured party's medical expenses.

Clear the lease legally before selling your business

If you plan on selling your business and you don't own the property on which it operates, it is prudent to clear your lease before exiting. Your business lease is a contract that gives you the legal right to operate your business from the rented space. If you have months or years remaining on your lease when you sell the business, you'll likely run into a myriad of problems unless you clear it in a timely manner. Your best move is to clear the lease legally far ahead of the date when the sale is finalized.

Ideally, you have prepared for this moment long before it arrives. Savvy business owners who lease properties plan ahead by incorporating provisions into their business leases that allow for an early exit in the event of a sale. Most landlords are willing to negotiate such provisions to give business owners an “out” that permits them to legally clear the lease before it is up.

Yet most business owners don't have the foresight to push for such a provision. When they decide to sell the business, they are forced to find a means of legally clearing the lease. There are a few options when it comes to exiting an existing lease that has not reached its end. You can transfer the lease, renegotiate it or buy your way out of it. Regardless of what you choose, it should be performed fairly early in the sale process. This will ensure that the new owner will be able to operate the business without any conflicts and you'll be able to exit in a graceful manner. If you wait until the last minute, your sale has the potential to fall apart.

You must keep your landlord in the loop from the outset so that he is aware that a new owner will be operating the business from the property. If you include your landlord early on in the discussions, he'll be more inclined to work with you to legally clear the lease in a timely manner. When you bring him into the sales discussion, he'll be much more receptive to transferring or renewing the lease with the new owner. Remember, the landlord must be given ample time to ensure that the new owner is actually qualified to operate on the property and that he is fully capable of making lease payments in full and on time.

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