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Business tort law is complex, offering protection to businesses from wrongful acts against them. If your business suffers an economic loss of some type due to the wrongful act of another, litigation may be the only way to resolve the issue.

At Hone Law, we handle litigation cases in Nevada and nationwide.

If your business has suffered a loss due to a business tort, we’ll discuss resolution strategies and litigation with you.

Schedule an appointment with a business torts lawyer.

The Significance of Business Tort Laws and How They Protect Business Owners

Tort laws enable individuals to claim compensation for damage or injury caused by other parties. In the business world, tort laws allow companies to seek remedy when another business or individual’s actions cause financial or reputation damage.

For example, Nevada’s Uniform Trade Secrets Act provides an avenue to recover damages for misappropriation and unjust enrichment. Additionally, those who are guilty of theft of trade secrets may face criminal penalties that include time in prison and hefty fines.

Laws such as these deter individuals and businesses from engaging in the theft of trade secrets.

While business tort law does offer protection and remedies when torts arise, businesses should protect themselves against torts by:

Drafting strong and enforceable contracts that define the rights and obligations of each party. Effective contracts reduce the risk of disputes and protect your interests.
Implementing strong confidentiality agreements and advanced security measures to protect trade secrets. Physical and digital security measures can help keep your secrets under lock and key.
Monitoring your reputation and addressing damaging or false information as quickly as possible. Taking a proactive approach to reputation management can help you maintain a positive image.

Taking steps to protect your business is important, but torts can still arise despite your best efforts. If they do, business tort laws will help protect your interests. An experienced business litigation attorney can help you understand your options and the best strategy to take in your case.

How an Attorney Can Help With Your Business Tort Claims

When business torts occur, it is in your interest to act soon to prevent further harm to your business. A business tort law attorney at Hone Law can review the details of your case, explain your options and help you find the best plan.

Depending on the circumstances, the issue may be resolved outside the courtroom through arbitration or mediation. If we cannot reach a favorable settlement, litigation may be the next step.

Business tort claims are complex, and the stakes are high for your business. Along with monetary damages, torts can tarnish reputations and even reduce market share.

At Hone Law, we never shy away from complex business legal matters. We handle litigation cases in Nevada and nationwide.

If your business has suffered a loss due to a business tort, contact us to discuss your matter and see if we’re a good fit for your case.

FAQ

What Are Business Torts?

Business tort law revolves around “torts,” which are wrongful acts against a business that cause an economic loss of some kind. Some torts are intentional, such as if a CEO sells trade secrets to a competitor, but a tort can also be due to negligence.

Torts fall into multiple categories.

Types of Torts

Remedies are available for multiple types of torts, including but not limited to:

Breach of Contract

Failing to fulfill part of a contract can have a negative effect on a business, and damages can be sought. For example, if you prepared for the launch of a product and promoted it, and a supplier failed to deliver the goods, it is a breach of contract that can cause significant losses.

Breach of Fiduciary Duty

Certain stakeholders and employees within the business may have a fiduciary duty that must be upheld. In partnerships, this duty also exists. A partner must act within the best interest of the business and not in their own interest.

Fraudulent Misrepresentation

Deals require all parties to be honest. Fraudulent misrepresentation can cause significant financial harm because businesses may enter deals without knowing all of the facts.

Libel in Trade

Trade libel occurs when false statements are made against a business’s products or services, causing harm to the company’s reputation and potential financial loss. Libel can cause a loss of business.

Theft of Trade Secrets

Businesses rely on trade secrets to maintain a competitive advantage and differentiate their product or service from the competition. A secret recipe or way of manufacturing a good provides economic value to the business.

If these trade secrets are stolen or sold, a business tort lawyer can seek damages on behalf of the business.

Tortious Interference

If you have a deal or relationship with a party and another party intentionally interferes with it, their action may be considered tortious interference. Meddling with agreements and relationships can cause financial harm to both parties.

Unfair Competition

When another party tries to market a product that is confusingly similar to yours, it may be considered unfair competition. With this type of tort, the aim of the defendant is to confuse consumers as to the source of the product.

A business torts lawyer can help you seek justice for the damages to your business. Tort laws are designed to protect owners and the businesses they create, and it’s in your right to seek remedies.

What Remedies Are Available for Tort Claims?

Several remedies are available for business torts, depending on the facts and circumstances of the case. Some of the most common include:

Compensatory damages: Compensation will be based on the amount of money lost because of the defendant’s conduct.
Punitive damages: If the defendant’s actions were particularly egregious, reckless or malicious, punitive damages may be awarded.
Injunctive relief: The court may order the defendant to refrain from acting in a certain way or to take certain actions. Injunctive relief is typically granted only when no other remedy is available.

Other remedies may also be available, but the primary aim is to compensate the business for the harm it has suffered.

Helpful Links

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