It is important that businesses conduct their operations with fair and sound business practices. A claim of unfair business practices can be made against a business by another business or by consumers if they believe that a business engaged in any type of deception or fraud that resulted in losses. California’s Unfair Competition Law (UCL) is a protection for individuals and businesses from being harmed by a business that is deceptive or misleading. This includes unfair and unlawful business practices and false advertising.
Lawsuits tend to be a part of running one’s operations, and they may be necessary if a company suffered damages as a result of unfair business practices. If this happens, it is imperative that you take action immediately to protect yourself and your company. You may be able to recover financial compensation for the losses you incurred. The experienced Los Angeles business litigation attorneys at the Leiva Law Firm could help you if your company suffered losses as a result of deceptive trade practices.
What to Do if Your Business Was Harmed By Unfair Business Practices
Staying competitive in your market is not an easy thing. It is an ongoing responsibility that requires business owners to stay current on trends and opportunities that help their operations stand out and thrive. However, when another company engages in deceptive actions, it can cause your company to lose business, and this hurts your bottom line. You have the right to respond and take legal action.
All businesses, from large to small corporations, partnerships, firms, associations, organizations, and more, are protected under the UCL.
Whether fraud, breach of fiduciary duty, stealing of trade secrets, or unfair contracts, a business that was harmed can take action. First, a court injunction may be sought to stop certain unfair business practices. Next, a company can file a California unfair business practice claim for compensation for the damages they sustained from another entity’s wrongful conduct.
A successful claim can force a business that violated proper business practices to pay plaintiffs financial compensation. Depending on the circumstances, a business that is found to have engaged in deceitful activities that harmed others may also have extra punitive damages added to the total sum they are required to pay. Additionally, such businesses may also have to pay civil penalties for their fraudulent actions.
A business that is filing a claim only has a limited time to do so. The California statute of limitations for an unfair business practice claim is four years from the date that the violation took place. Due to this small window of time, it is critical that businesses take action early so that they do not miss the statute of limitations. If this happens, it will not be possible to file a suit, and the ability to recover compensation will be lost.
Speak with a Business Litigation Attorney at the Leiva Law Firm Today
The Leiva Law Firm offers a skilled and aggressive legal team that will work for you and protect your legal rights. Call today to schedule a free consultation at (818) 519-4465.