If you hired a specialist to complete a job so that you could generate income through your business, and they are guilty of a breach of contract, you can also sue them to recover you lost income.
As a case in point, assume a company or individual promised to provide 24/7 tech support and website services to keep your business website up and running online. But then the system crashed and no one bothered to return your frantic calls and emails for five straight business days. Such a disaster could cost you untold amounts of money and make you consider suing.
Again, itâ€™s important to work with an experienced attorney to go through all of the details of the situation and calculate the extent of losses and financial distress youâ€™ve experienced.
Lesson: Paperwork, a strong timeline documenting the events, and past financial records can help establish to a court whether or not you have a bona fide claim for loss of income.
When an individual or corporation copies your work or infringes on a copyright you own in any way, you have the right to sue. This can be a complicated situation in the creative field because so many people are able to create derivatives of your work without your knowledge. Still, if you come across blatant copyright infringement, you can pursue a lawsuit with the help of a copyright lawyer.
Other types of lawsuits might be based on employment discrimination, medical malpractice or deceptive advertising.
Lesson: In all circumstances, you have to think about whether the cost, the time, the effort and the emotional toll of a lawsuit are worth it. If you think it is, then a lawsuit may be in your best interest â€“ no matter how difficult the case appears in the beginning.
â€śAsk The Money Coachâ€ť is a syndicated column written by personal finance expert Lynnette Khalfani-Cox, co-founder of the free financial advice blog, AskTheMoneyCoach.com. Follow Lynnette on Twitter at @themoneycoach.