, in the commercial litigation
context, happen all the time and get in the way of deal closings or even the operation of the business. Sometimes business partners realize that a deal they thought was made in heaven is not meant to be and may decide to sever their business relationship. In other circumstances a regulator, contracting party, or third party may prevent a matter from going forward.
Our Chicago business lawyers have experience in dealing with all types of business contracts and business organizations, helping our clients cope with troubled deals and partnership disputes, and advising them on how, and whether or not to proceed with a particular deal or business venture. Our business litigation lawyers spend time looking at the business agreement, business organization or business transaction and understanding the risks and also the various legal issues that might arise and remedies that might be available to our clients in order to help resolve a business dispute or ameliorate potential losses to clients.
Business disputes occur for various reasons. Sometimes a party may want to walk away from a deal because he or she discovered material misstatements in a party’s representations which result in a breach of contract, breach of fiduciary duty, or even fraud. Other times events could result in professional liability or events and developments could seriously affect the target’s future prospects. Examples of these developments are: significant downturn in revenue, the adoption of governmental regulations, a condition precedent to closing (like obtaining a material consent) cannot be satisfied, or one of the parties simply wants out of the deal. Our attorneys have experience in handling these types of situations and consider whether there is sufficient ground for walking away and, if applicable, also conduct an analysis of remedies available to the client or opposing party and attempt to calculate potential damages by way of a damage analysis. These considerations often turn to principles of contract law to resolve the contract dispute.