The success and overall performance of a commercial property depends on a variety of factors. Perhaps one of the most influential is the way that owners (both property and business owner) handle and prevent personal injury liability situations. Bound to occur at some point, these incidents can cost all involved parties a great deal of time and money. Thankfully, the following sections can help you learn how preparing your commercial real estate property for premises liability can help to protect your asset (and your bottom line).

The Potential Consequences of Ineffective Premises Liability Protection

During the year 2017, more than 53,000 personal injury cases were filed in the United States. Many of these cases likely ended in a settlement, but not all. In either case, these lawsuits cause business and property owners to lose millions of dollars on an annual basis. Attorney fees, settlements, and court costs are just a fraction of the costs that can be associated with such cases. Money may not be the only loss that a business or property owner experiences; one's reputation and image can also be irretrievably damaged if the case goes poorly or receives a lot of publicity.

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Commercial real estate disputes can be frustrating, complex, extremely costly. Thankfully, there may be ways to solve issues with less stress, money, and effort. Learn more about resolving your commercial real estate dispute, including when to seek assistance from a legal professional, with help from the following information.

Types of Commercial Real Estate Disputes

Disputes in commercial real estate are, most often, related to contracts, development, land use, or title issues. For example, land developers may experience arguments or potential litigation over:

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Commercial litigation can be a complex area of law and especially confusing in the wake of a lawsuit. It is important to understand your rights as a business owner and the litigation process overall. In the first part of our series, we reviewed a few frequently asked questions (FAQs). Below are some additional matters you should be aware of regarding commercial litigation.

What Should I Do if I Think the Company May Get Sued?

If you have reason to believe that you or your business may be sued, you need to take action to preserve all documents potentially related to the lawsuit. This also includes documents in electronic form such as emails and text messages. Failure to preserve these documents can harm your case and result in severe penalties. You should also speak with a lawyer immediately to develop a plan of action. You should not wait for a lawsuit to be filed before meeting with a lawyer.

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You did not get into business hoping to be dragged into court. However, sometimes the only way to protect your business is through a lawsuit. Commercial litigation is intimidating and mysterious to many business owners. If someone is threatening to file a lawsuit against you, or if you believe you may need to file a lawsuit to protect your investment or business, you need to understand your rights and how the litigation process works. Below are several common questions businesses have about commercial litigation.

What Are Some Common Types of Commercial Disputes?

Commercial litigation covers almost every type of legal problem a business can run into. Some of the most common types of commercial disputes include:

• Breach of contract
• Problems with government agencies
• Employment disputes
• Fraud
• Interference with a business relationship
• Breach of a fiduciary duty
• Securities lawsuits
• Debtor/Creditor disputes
• Shareholder disputes
• Mechanic's liens
• Broker's liens
• Real estate disputes
• Construction disputes

What Damages are Available for a Breach of Contract?

Under Illinois law, there are several different remedies available for when there has been a breach of contract. The type of damages available will depend on the specific facts of a case. Before you know exactly what damages are available, you will need to consult with a commercial litigation attorney. The types of damages and remedies available for a breach of contract include:

• Compensatory damages
• Consequential damages
• Specific performance
• Liquidated damages
• Rescission
• Reformation

More commercial litigation frequently asked questions (FAQs) will follow in part two of this mini-series. If you have a commercial litigation issue, you need to speak with an experienced attorney right away. Call Lindell & Tessitore, P.C. at 630-778-3818 today to schedule an appointment with a Naperville commercial litigation lawyer. Take action today to protect your business. Sources: http://www.illinoiscourts.gov/circuitcourt/civiljuryinstructions/700.00.pdf http://www.ilga.gov/legislation/ilcs/ilcs4.asp?ActID=2017&ChapterID=56&SeqStart=99900000&SeqEnd=103300000

Whether it is used to cover the terms of a rental property, outline the specifics of a business transaction, or define a code of ethics and/or integrity, contracts are designed to ensure all parties hold up their end of the deal. If a party fails to fulfill their part of the contract, indicated they have no intention of fulfilling their part of the contract, or makes it impossible for the other party to fulfill their end of the contract, this is known as a breach of contract. If this happens, the wronged party may be able to take legal recourse.

Lawsuits for Breach of Contract

Before a lawsuit can be filed for a breach of contract, certain stipulations must be in place. Firstly, a contract must generally be in writing (few oral agreements qualify). Moreover, the contract must fall within the Illinois Statute of Frauds limitations, which includes:

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