If you own a Texas business, it likely represents your major, if not only, source of income. Consequently, running, managing and protecting that business is topmost on your priority list. The last thing you need is someone committing a business tort, that is, a wrongful act that injures your business.
Business torts come in a variety of forms, including the following:
- Intentional interference with your business
- Restraint of your trade
- Theft of your trade secrets
- Fraudulent misrepresentations
- Unfair competition
Many, but not all, business torts have to do with someone else’s deliberate, reckless or negligent breach of a contract you have with him or her. Because of that person’s actions or failure to act according to the terms of the contract, your business suffers economic damage.
Your business’ foundations
The life and success of your business depend on its public reputation, its ability to initiate and maintain business and customer relationships, and its ability to successfully function and compete in the marketplace. Should someone undermine one or more of these foundational pillars on which your business rests, this, too, is tortious behavior on his or her part.
When someone commits a tort against your business, you can sue that person to recover the losses your business sustained because of what (s)he did or failed to do. You also can recover the value of the future losses your business will suffer as a result of the person’s wrongdoing.
Business torts, whether contract-related or otherwise, are serious matters. While the civil litigation process can be lengthy and frustrating, it likely is the best chance you and your business have of recovering from your mutual losses.