CIVIL ADVOCATE FOR ECONOMIC TORTS IN CHENNAI: Today’s Business world is very competitive, ruthless, and nasty in the first place. As a matter of fact, Even in a competitive business climate, some behavior is not acceptable. Civil law allows businesses to claim compensation from responsible parties in like manner. These responsible parties would have caused business losses using unfair practices in the same fashion. It is the step taken by law to discourage offenders from such type of conduct. Our Civil litigation advocate team offer legal services and remedy from the law governing this type of relief.
The civil attorneys in our law firm are aggressive court practicing advocates for clients who suffered financial harm due to unfair commercial conduct. And Corporate retainer legal consultants are also principled defenders of clients facing business tort allegations.
What is a business or economic tort?
Economic torts are also known as Business torts. In any case, They are wrongful acts committed against business entities. It may be intentional or due to negligence or recklessness. It may likely result in some kind of financial loss. They are not criminal offences. But some business torts are also charged as criminal offenses.
A business tort occurs when- the wrongful conduct of an individual/ business -causes financial harm to another business.
Protection of the economic interests of the claimant
The ECONOMIC TORTS, as their name suggests, have as their main function, the protection of the economic interests of the claimant. They include simple conspiracy lawsuits, unlawful conspiracy, inducing breach of contract, intimidation, unlawful interference with trade, fraud, and malicious falsehood. All of this was a claim of intent. They also include passing off, one of the most useful of the lawsuit economy, although in practice it usually involves the danger of deliberate, actually is a strict liability tort. Finally, an economic lawsuit also includes a claim of negligence, although applied in ways that narrow.
Common Business Torts
The economic torts are of two categories:
- General Torts
- Misrepresentation Torts.
The general economic torts comprise Conspiracy
It is the agreement between two or more parties to do a lawful or unlawful act by unlawful means. Conspiracy requires the establishment of the following elements :
- Two or more persons- A company is a separate legal person and can conspire with its directors
- Agreement causing damage
- The unlawful act or Lawful act by unlawful means
Economic Torts Inducing Breach Of Contract –
Here one individual causes harm to a third party by persuading a contract. The Individual intends to break the contract at the same time. It is further classified into 3 scenarios:
a) The defendant persuades a third party to break a contract with the claimant. It occurs when the third party gets an offer of more money to fulfil a similar contract elsewhere.
b) Unlawful means the defendant prevents the performance of the contract.
c) The defendant brings a fourth party to break his contract with a third party. Here as a consequence, the third party is unable to perform his contract for the claimant.
Economic torts Intimidation
The claim of intimidation has the following four elements :
a) A threat to the third party that is coercive in nature and which is more than a mere warning
b) The threat to do something must be unlawful, for example, a crime, tort, or breach of contract
c) The third party must have complied with the threat and have done as asked
d) There must be damage suffered due to the threat
Unlawful Interference With Trade.
whereby an individual tries to gain an advantage over the competition. In Unlawful Interference With Trade, the act involves using unacceptable and unlawful means
The misrepresentation of economic torts are
- Malicious Falsehood.
- Passing Off.
Some common business torts are
Restraint of Trade: –
Claims where the defendant’s act itself hasn’t caused the plaintiff’s immediate economic loss as a result. But a much broader obstruction in its ability to carry out business as usual.
Stealing of Trade Secrets:–
Here one party steals private information from a business. In that case, there is the intention of gaining an unfair competitive advantage.
Two parties enter into an agreement. It may be contractual or sealed with a handshake in good faith. In the deal, there may be a misrepresentation of position/ intentions/a material aspect. It may result in financial harm
to the other party at the same time. Thus it gives rise to a civil claim.
Here the defendant with wrongful intention affects the other’s lawful business interests. At this point, Claims here include
- Wrongful interference with contracts,
- The Interference with wrongful prospective business opportunities
- Wrongful Interference with the right to earn a living.
This is very like trademark and copyright infringement. On the other hand, Here the defendant’s product is very like the plaintiff’s. The claims also involve false advertising.
Here a party makes false statements about the quality of goods or products with this in mind. Hence, It results in a loss of business to the plaintiff. Many different types of claims involve disparagement like title slander and trade libel above all. False or fake negative reviews of a product also constitute disparagement.
Damage to computers is a business tort in reality. For example deliberate damage to the hardware/software of a computer. Provided it affects the business’s ability to secure profits then again. Negligent use of a computer is also a tort.
Remedies for Business Torts
The Civil advocates in Chennai offer the following remedies are available for economic torts:
Damages for economic torts:-
Businesses that suffer financial loss can claim damages at any rate. The loss is due to another business or individual’s intentional or negligent act.
Injunction for Economic Torts:-
Civil lawyers in Civil Courts will get you injunctions ordering the defendant furthermore to stop certain unlawful activities.
DISCUSS A BUSINESS DISPUTE WITH OUR SENIOR ATTORNEY
Are you involved in a business tort, fraud, breach of fiduciary duty or another type of litigation?. Moreover, Top Civil attorneys in our Law firm can provide knowledgeable legal representation. Civil advocates resolve Businesses having business disputes, partnership disputes, defrauded or defrauded by the same token.
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