Litigation in general refers to contesting a case in a court of law. A litigation related to commercial affair is referred to as the commercial litigation. Commercial litigation are of several types-
1) Antitrust and trade litigation- It is also referred to as the competition law. The purpose is to promote or maintain market competition by regulating anti-competitive behavior. It has been criticized by certain groups on grounds- it prevents removal of weak companies. Important laws pertaining to this type of litigation are the Sherman Act (1890), Clayton Act (1914), etc.
2) Corporate litigation- It refers to mergers and acquisitions, shareholders rights, employment agreements, contract disputes, etc. There are both federal level and state level laws. State level laws may vary from state to state.
3) Securities- Securities Act of 1933 was probably the foremost comprehensive step in regulating the securities market. The Securities Exchange Act (1934), etc. provided the boundary within which disputes like- full disclosures in public offerings, negligence in fiduciary duties, etc.
4) Franchise related litigation: There can be several grounds for litigation. This may be due to breach of contract between a franchisee and franchisor. There may be disputes related to trademark infringement as part of Intellectual Property Right act.
5) Hobbs Anti-Racketeering Act (1946) and other consumer protection acts- The anti-racketeering act although formulated to curb the mafia and other criminal syndicates. It has been used extensively against legitimate organizations too.
6) Injunction Practice- There can be two types of injunctions- preliminary or temporary and preventive. The matters on which injunction may be applied may be varied like restrictive covenants (contracts), protecting collaterals from unscrupulous creditors, termination of franchisee agreement between parties, etc.
The commercial litigation domain in itself is very huge and diversified. Moreover, it should be kept in mind that rate of litigation and the nature of litigation also depends on the socio-political and economic condition of a region. Commerce is influenced by international, federal and state laws. This makes it very complex. It should also be kept in mind that the procedure and the perspective of commercial litigation may be different from each other.
As a lawyer slowly begins practicing, he slowly starts growing affinity to any particular domain of law. As a result a lawyer who specializes in mergers may not prove to be as efficient in intellectual property right lawsuits. As a result it is imperative that a corporation or any business entity evaluate a lawyer properly. This can be done with a simple background search in terms of experience, specialization, success rate till now and qualification.
Ohio has negative net migration and increasing unemployment rate. The industrial sector is dominated by trade and transport utilities. There is a bioscience sector and other financial and manufacturing units. The sectoral composition of industries will also in many ways determine the nature of commercial litigation. As a result it is suggested that you approach an Ohio Commercial Litigation Attorney.
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