More than 30 Percent of Small Biz Lawsuits are for Breach of Contract
Business owners invest a lot of their time and energy in building their companies and developing quality products or services. However, one area that is sometimes neglected is potential liability.
Approximately 12 million contract lawsuits are filed against small businesses each year. The majority of these disputes concern breach of contract claims. Therefore, it’s important to know: Is your small business at risk of a breach of contract lawsuit?
Approximately 90% of all businesses will experience a lawsuit during the life of their enterprise. Additionally, on average, 36-53 percent of small businesses are sued each year. Further, 45 percent of small businesses are involved in litigation. Forty-three percent of these enterprises are threatened with a lawsuit every year. Most small business-related litigation will involve a breach of contract claim.
In fact, According to Delino, a legal SAAs company, approximately 31.4 percent of lawsuits filed against small businesses are for breach of contract. And breach of contract suits begin by looking at your contracts, something that should be done by a qualified attorney.
Dean Sperling advises clients to watch for things like failing to identify parties accurately, adding in careless guarantees, not paying attention to hostile venue or jurisdictional clauses and not building in sufficient arbitration clauses.
The statistics are undeniable. Legal disputes are EVERYWHERE! And when those things negatively impact YOU and/or YOUR business including bankruptcies, landlord/tenant matters including unlawful detainers, contract issues, nuisance ADA claims and even collections, call in your good guy business litigator, Dean Sperling to resolve YOUR matter with YOUR best interests in mind!