Disputes between businesses occur all the time. Some can be resolved with a simple phone call or an agreement to conduct business different. But if you are a business owner and a summons and complaint is served upon you, it may have a number of accusations and charges that you may not be familiar with. As such, this post will highlight definitions of common business torts.
Fraudulent misrepresentation – Widely known as common law fraud, this claim is brought to seek a legal remedy for harms stemming from false statements or representations. As a matter of law, a company can seek monetary compensation when it relied upon a statement that was made intentionally and is materially false.
Interference with prospective business advantage – When a business relationship has been formed, but has not yet been formalized in a contract, there are certain protections that are involved that prevent a third party from interfering with that relationship.
Interference with contractual relations – Similarly, an interference claim is based on remedying the actions of a third party that attempted to thwart the contractual relationship between two separate companies.
Unfair competition – This tort is akin to a “catch all” claim, since under Illinois law, any unlawful, unfair or fraudulent business practice could be actionable under the claim “unfair competition.” Common torts that fall under this category include trademark infringement, false advertising, use of confidential information .
Successfully pursuing any of these claims may involve an experienced business litigation attorney to manage information and evidence, as well as how to attack the other company’s legal strategy.