New Jersey Business Litigation Lawyers
Business torts are defined as intentional, negligent, or reckless acts committed against a company that has a negative financial impact on the business. Many business torts give rise to civil claims for damages to the company’s business relationships, its reputation, or its functionality. The claims can be based upon actual losses, or on future loss estimates. In some cases, the court can also issue an injunction that mandates a defendant stop illegal actions associated with the business tort.
At Eichen Crutchlow Zaslow & McElroy, LLP, we are committed to helping business clients claim the compensation they deserve via a successful civil business tort lawsuit. When a company suffers damage to its reputation, has its trade secrets misappropriated, or loses earning potential because of the intentional or negligent actions by another, our team of business litigation lawyers will aggressively pursue justice.
Common Business Tort Claims
There are many ways a business can suffer economic losses because of intentional or negligent actions of another. Damages ranging from the loss of clients, irreparable harm to business relationships or to the reputation of the business, and the high costs of trying to repair that harm can have devastating consequences and can sometimes lead to the closure of a business. The most common types of business torts include:
- Fraudulent Misrepresentation: When two parties enter into a contractual agreement, it is assumed that both parties are acting in good faith. When one party intentionally misrepresents their position with falsified information or intentions, fraudulent misrepresentation has occurred. The plaintiff in this type of situation will need to prove that the defendant intentionally made a false representation or did so recklessly because they went forth with the contractual agreement not knowing if the information was in fact accurate. The defendant must have known that the plaintiff relied on this information and representation to be true, and caused harm to the plaintiff because of the misrepresentation.
- Tortious Interference: This is a common law tort that results in financial damage to a business whereby another party purposely hinders a contractual agreement between the petitioner and another business entity. Most commonly, one entity entices, blackmails, or threatens someone to induce a breach of contract that causes significant loss to the petitioner.
Tortious interference must result from an intentional malicious act by the defendant. If the court fails to find a motivation for the defendant’s actions, the tortuous interference claim is invalid. The defendant must have had knowledge of the contract, have a specific intent to interfere with the contractual agreement, have actually interfered with the execution of the contract, have acted improperly, and caused damage to the petitioner.
- Restraint of Trade: This type of common law is not an actual business tort, but it results when a business suffers financial loss because the defendant interfered with the normal conduction of business. Price fixing, monopolizing, and coercion are examples of restraint of trade practices. The financial impact may not be immediate in this type of claim, but can have a substantial impact on the business and its future.
- Theft of Trade Secrets: A trade secret is any type of confidential information that has a monetary value to the business. A trade secret can be a recipe, a design element, manufacturing process, advertising plan or sales strategy that gives the company a competitive edge in the marketplace. A theft occurs when someone within a corporation with access to the trade secret uses that information to profit personally, or to intentionally cause harm to the business. Patents, non-disclosure, and confidentiality agreements can help protect trade secrets, but the most effective protection comes from limiting the number of people with access to the trade secret.
- Trade Libel: When a business suffers damage to its reputation because of false claims made by another party, defamation has occurred. Trade libel refers to false claims being made in writing, and trade slander refers to false claims made in speaking. In whichever form the defamation occurred, the offending party may be held liable for damages.
New Jersey Business Litigation Lawyers at Eichen Crutchlow Zaslow & McElroy, LLC Provide Experienced Counsel Essential for Your Successful Business Tort Claim
If your business has suffered financial loss or damage because of the intentional or negligent actions of another, you may be entitled to compensation by filing a business tort lawsuit. The experienced New Jersey business litigation lawyers at Eichen Crutchlow Zaslow & McElroy, LLC can gather the necessary evidence to bring your claim to a successful conclusion, helping you to claim the justice and compensation you deserve. Call us at 732-777-0100, or contact us online to schedule a consultation today. Our offices are conveniently located in Red Bank, Toms River, and Edison, New Jersey and we proudly serve clients throughout the state.