When running a business, understanding key legal concepts is critical. One of those concepts is claims. Broadly speaking, a claim is a statement made by a party in a legal dispute in an effort to resolve the dispute.
In more specific terms, claims relate to actionable rights. When a person or party believes their rights have been violated, they may make a claim against another person or party to assert those rights and seek a remedy. Claims can vary depending on the dispute, but some common examples include breach of contract claims, intentional tort claims, and medical malpractice claims.
It’s important to understand that claims are not limited to the courtroom. Businesses can also take action to assert their rights on matters such as intellectual property infringement, trademark infringement, and unfair competition. These types of claims typically involve an allegation of harm that has been caused by the other party’s inappropriate or wrongful behavior.
Understanding claims and how they may impact your business can help you to be prepared for any potential legal disputes. Knowing your rights and the legal remedies that you may be able to pursue can be invaluable in protecting your interests. Consulting with an experienced attorney who specializes in your area of business can help you to understand the specifics of a given claim, how it may impact your business, and the potential remedies that may be available.