How to handle a commercial dispute
Commercial disputes can arise from a number of scenarios- from a breach in contractual obligations, intellectual property infringements or any other actions why may result in legal action being taken. Given the diverse range of incidents that can give rise to a commercial dispute, it is common for businesses to encounter them at some point. It is important to engage the advice of commercial lawyers in Melbourne for any commercial dispute as it is often difficult to navigate. In situations where you wish to preserve a professional relationship with the disputing party, it is especially important to seek an experienced lawyer.
Common Commercial Disputes
If you have found yourself in the midst of a commercial dispute, it is in your best interest to seek a commercial litigation lawyer to preserve the reputation of your company and prevent any harm that could be caused. Avoiding a negative outcome is the main priority of businesses.
Breach Of Contractual Obligation
A breach in a contractual obligation occurs when one or more parties to a contract fail to meet the responsibilities outlined. Contracts are an essential part of any commercial transactions and dealings. Given their centrality, a violation in contractual duties are the most common rise of commercial disputes. One party may feel as though the other failed to comply and live up to their obligations. Therefore, they may wish to seek some type of remedy. The settlement will usually depend on the degree of the breach – whether it was a material breach or minor.
An example of a contractual breach can include a tenant not paying their rent. If this occurs, your first protocol should be to speak to your tenant. If the problem has still not been resolved, a Notice of Breach should be issued to the tenant outlining what they have done wrong and allow them 14 days to remedy the breach by paying the rent that was initially owed. If after the 14 day period the tenant has still not paid their rent, you are entitled to terminate the lease. In doing so, you do not diminish your rights to sue the tenant for a breach of contract.
Intellectual Property Infringement
Intellectual property rights play a crucial role in the modern-day technology world. They are essential to the continuation of successful businesses. Intellectual property includes things such as trademark, patents, copyrights and trade secrets. Essentially, they are things that are not tangible in the real world. Regardless of this, there are existing rights and protections that exist for companies that feel as though their property may be stolen or used without their permission. Disputes resulting over intellectual property have become increasingly popular over the years which is why they are occupying an increased role in commercial litigation.
For example, a trademark such as a sign, name or logo which is used to distinguish a service or company, can be registered in the Trade Mark Register to ensure other companies do not use a similar concept. Even if the trademark is not registered, there are still some common law protections available to owners. However, it may be difficult to determine if you are infringing an unregistered trademark. It is a good idea to come up with a unique design so that you can be distinguished from others and create your own associated brand.
In any commercial dispute, a company’s reputation may be tarnished if it isn’t handled in a professional manner. To ensure your company’s reputation remains unscathed, seek the services of an experienced commercial lawyer. Although it may seem as though a lawyer is not essential, it is in your best interest to consult with a lawyer before and during the process.