Can you sue for time lost?

Usually, a litigants own lost time will not be compensable in a tort action. But, while lost time is not compensable as a general rule, lost income (either from wages or profits) usually is compensable so long as it is foreseeably caused by the breach of a legal obligation, and is not merely speculative.

What kind of lawsuits do small businesses get?

Common types of business lawsuits include breach of contract, slip-and-fall accidents and other premises liability, and discrimination. This article is for small business owners who have been sued, or who worry about being sued.

What should you do if your business is sued?

Many of our experts reminded business owners that anything they say regarding the lawsuit can be used against them. For this reason, you should not attempt to contact the plaintiff before you’ve thoroughly reviewed the suit. From there, all communications with the opposing side should be conducted through your law firm and the plaintiff’s.

When to use lost profits in a lawsuit?

Profits can be defined variously depending on the venue, facts and circumstances of the underlying engagement. The calculated lost profits are then adjusted for mitigation, if any. A lost profits analysis is commonly employed in breach of contract, intellectual property and general commercial litigation cases.

When to use lost business value in court?

Lost Business Value In circumstances where the loss of earnings is considered or assumed to be permanent and into perpetuity, or where a business is destroyed completely, a lost business value approach is generally appropriate. This approach is commonly applied in business destruction, shareholder oppression, dissenting shareholder and tax court.

When to sue someone in a business dispute?

It will also help you decide if the difficulty of suing that person or company is worth the time, effort, and cost. You need to know where the person or business lives or does business, to establish jurisdiction (where the case will be tried). If you can’t find someone, it’s difficult––and more costly––to start a lawsuit.

Can a lawsuit put a company out of business?

For some, the lawsuits have put them out of business, but many are able to carry on despite these major financial setbacks. Find out why these companies were taken to court and how much some of their biggest failures cost them.

Who is the tobacco company that was sued?

Philip Morris is the company behind some of the most well-known cigarette brands, and it’s one of the cigarette manufacturers that was sued by several U.S. states to recover the costs incurred to treat sick and dying cigarette smokers.