Business Torts – How They Can Affect Your Business

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If you're a business owner, you should be aware of the different torts that can affect your business. Business torts are civil wrongs that are committed by one business against another. They can involve various activities, such as defamation, contract interference, prospective economic advantage, etc. Our New Jersey business litigation team discusses some examples of business torts and how they can impact your business.

Business Defamation

One type of business tort is defamation. Defamation occurs when someone makes a false statement about your business that harms your reputation. If you can prove that the statement was false and that it caused you financial damages, then you may be able to recover damages from the person who made the statement.

Tortious Interference with a Business Relationship or Contract Expectancy

Another type of business tort is interference with contracts or prospective economic advantage. This occurs when someone intentionally interferes with your business relationships or tries to prevent you from doing business with someone else. For example, if a competitor tries to stop you from doing business with a potential customer, that could interfere with prospective economic advantage.

Theft of Trade Secrets

Trade secrets are information that is not generally known and gives your business an advantage over its competitors. This could include customer lists, marketing plans, or manufacturing processes. If someone steals your trade secrets and uses them for their benefit, you may be able to sue them for damages.

Recovering Compensation for Tortious Conduct Impacting Businesses

If your business has been the victim of any tortious conduct, you may be able to recover damages. The amount of damages you can recover will depend on the specifics of your case. Damages may include the following:

  • Lost expected profits
  • Lost business goodwill and reputation
  • Marketing expenses for restoring goodwill and combating false statements
  • The value of stolen trade secrets
  • Expenses to replace contracted employees and minimize losses due to corporate espionage
  • Legal costs and attorney's fees
  • Triple damages (punitive damages) for malicious trade secret theft

If you believe your business has been the victim of tortious conduct, you should contact an experienced business lawyer to discuss your case. A business litigation lawyer will be able to help you gather the evidence you need to prove your case and recover the damages you deserve.

M. Ross & Associates, LLC Will Advocate for You

If you've been the victim of a business tort, M. Ross & Associates, LLC can help. We'll work with you to investigate the incident and build a strong case. We have a track record of success, and we're ready to put our experience to work for you.

Contact us today at (201) 897-4942 to schedule an appointment with our business litigation attorneys!