When you own a business, it’s important to be aware of employment and contractual law. This is why many businesses choose to have the counsel of an employment lawyer to apprise them of their rights and responsibilities as well as to address any issues that may arise while they are in the process of conducting business.
When Do I Need a Construction Attorney?
In the construction industry, for example, there are different situations that may arise where having the counsel of a construction attorney would be necessary and/or beneficial. This includes drawing up contracts, mediating contracts, and addressing breaches of contract.
2015 Claims and Counterclaims in the Construction Industry
The American Arbitration Association handled 551 construction industry cases during 2015. These claims totaled $500,000.00, and in some instances totaled more. The largest mediated construction case, for example, was for $2.6 billion, and the largest case that was arbitrated during this year was for $96 million. It’s important to note that the total value of these claims and counterclaims was $5.5 billion.
There are different sizes of cases that can be handled by single arbitrators or a panel of arbitrators. The American Arbitration Association reported that the largest case resolved by a single arbitrator was a claim for $232 million. A claim for $23,000.00 was the smallest case resolved by a panel of 3 arbitrators.
Conflict Management in the Construction Industry
Alternative dispute resolution (ADR) is the preferred method of conflict management within the construction industry, according to the American Arbitration Association. In 2015, for example, the average time that it took to complete an arbitration from the initial filing to the receipt of the award was less than 8 months.
What Are the Benefit of Arbitration Versus Litigation?
Cases can be resolved in less time through arbitration versus litigation, according to the American Arbitration Association. Federal court statistics indicate that for civil cases, the average length of a jury or bench trial is usually 27.2 months.
In 2005, a review of civil cases that were filed in state courts was conducted. At this time, it was determined that plaintiffs won 68% of the bench trials. The plaintiffs in the jury trials won 54% of the time.
When Does a Breach of Contract Need to Be Filed?
The Bureau of Justice Statistics conducted the first national study of civil bench and jury trails. It was found that 33% of the civil cases filed within the state courts were for breach of contract cases.
Texas law, for example, states that breaches of contract claims are required to be filed within 4 years. The exception to this is when the contract specifies that a breach of contract needs to be filed within 2 years, however.
Why Does My Business Need an Attorney?
If you have been asking, “Why does my business need an attorney?” it would be beneficial to discuss this at length with a construction law firm. When you ask a construction lawyer, “Why does my business need an attorney?” they will be able to provide you with more detailed information about the services which their firm can provide to your business.