A tort occurs when one suffers loss or harm from another who commits a tortious act. Although crimes may be torts, the cause of legal actions may not be criminal in nature. Business tort litigation arises when companies engage in commercial disputes.
Tort law encompasses a wide range of business misconduct, including personal injuries, negligence, and unfair competition. There’s some overlap between business tort litigation and other major areas of law.
Other Important Legal Services for Business
Business tort litigation is an important legal service to have should the need arise. However, there are other more common legal services for business that may be more relevant to your business.
Common legal services for business include tax advice, contract/agreement review, as well as annual form filing and reporting.
Business owners may struggle to perform all the necessary legal services for their business, which is why third party legal services are popular. Not only do they reduce the burden for the business owner, but also these trained professionals will generally do a better job by providing their professional expertise.
A Better Way to Do Business
Business tort litigation is uncommon for small businesses, but even small businesses could use some help filing important legal forms.
For example, most businesses will need to obtain an Employer Identification Number, EIN for short, which allows a business to perform several essential business tasks. This important tax ID is used by the Internal Revenue Service (IRS) to track tax obligations of various legal entities, such as corporations, partnerships, and estates.
You can apply for an EIN online yourself, or you can have a third party represent your business and apply for you. Some application processes are complicated, which is why some business owners prefer to leave these matters to those with more experience.