egardless of the measures, businesses in New York often have to deal with contract disputes and legal issues. As an entrepreneur, you are probably great at juggling many tasks, but business litigation is not your area of expertise. You need a commercial litigation attorney who can be your advocate and guide as you seek justice. For many companies, hiring an attorney for business disputes on a traditional funding basis is not viable. The good news is that there are firms in New York that can work on contingency for cases that have merit and involve recovering compensation from the other party. Here is a detailed overview for your help.
How does a contingency fee work for commercial litigation cases?
Business lawyers usually have an hourly rate, and depending on the time they spend on a case, they send a bill to the client. However, when there is financial recovery involved, attorneys may skip this standard norm and go for a contingency fee. You may still have to pay a small upfront fee to get the business lawyer on board, but after that, there is no hour-based billing. Instead, the attorney will take a share of your compensation.
What kinds of cases qualify for such an arrangement?
Lawyers must have an interest in the outcome. In some cases, the eventual goal is to win against the other party, but there is no room for a settlement. If the attorney finds that your case has merit and is valuable, they will go for a contingency structure. Typical cases that qualify for such a fee arrangement include contract breach claims, issues related to sold and delivered goods, obtaining and enforcing judgments, partnership disputes, and shareholder disputes.
Finding a good commercial litigation attorney in NY
As pointed out above, not all firms offer services for a contingency fee, and a lot also depends on the case. If you need to find an attorney for your company, check their profile and see if they specialize in business law and commercial litigation. They must be locally based and should offer a low-cost initial consultation. An experienced lawyer may charge more for the same contract dispute, but their skills and profile are worth relying on. While you can ask around for references, you can also check online to find business lawyers. Check online ratings and discover what other clients are saying about a service.