Defending or Collecting Damage Claims
In any claim for compensation in litigation, the question of damages is often just as vital as winning or losing. Whether you are pursuing claims or defending against them, it is vital to retain an experienced trial attorney who knows how to maximize or limit (as the case may be) the recovery. The business litigation trial lawyers at NWBizLaw emphasize a damage claim as a critical aspect of every case. For our firm, this consideration is a vital part of case strategy, discovery planning, and preparation for trial or settlement.
Types of Damages in Lawsuits
Because no two situations or cases are exactly alike, there are a few different types of damage claims:
Economic damages are normally the most significant component of damages in a business litigation case. They include lost profits, out-of-pocket expenses, interest, and other direct financial harm, including the costs of business interruption and lost earning capacity. Both business entities and individuals may recover economic damage claims in both Oregon and Washington. In business cases, it is vital to retain top economic experts to demonstrate one’s case as to damages.
Non-economic damages are monies awarded to compensate an individual for damage to his or her quality of life, including psychological injury. These are also known as damages for pain and suffering. There is no set formula for the determination of non-economic damages. Such matters are left to the discretion of the fact-finder, so it is critical to retain a capable trial advocate to fight for your position.
Also known as exemplary damages, punitive damages are assessed not to compensate a plaintiff or claimant, but specifically to punish the defendant and deter similar conduct in the future. Making a punitive damage claim allows a plaintiff to conduct discovery into a defendant’s potential ability to pay a judgment, which is a topic otherwise forbidden in discovery. Pursuing these can be costly, however, as the tax consequences of their recovery can be severe, and their award often invites appeal of an otherwise successful verdict. While Oregon law allows for recovery of punitive damages (and sanctions a portion of them to the state), Washington law does not allow for recovery of punitive or exemplary damages.
If you suffered loss as a result of someone’s wrongdoing or negligence, you may be entitled to compensation. In order to determine what damages you are owed and to be awarded that compensation in a court of law, you’ll need the assistance of a business litigator. Likewise, if you need to defend yourself against damages claimed by another, a competent business attorney is critical to your success.
To find out what kind of damages you are owed or which you need to defend against, please come in for a free consultation at our Seattle or Portland offices. Our business litigation attorneys will be happy to discuss your needs.
Related Business Law Services
If you’re not ready for a lawsuit just yet, but would like to be paid the money you’re owed, explore our asset recovery and collections services.
Find out if the damages in your claim will fall under corporate or individual liability and how your business set-up is an important factor.
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Do You have a Claim for Compensation?
Watch our video above to determine which types damages you are dealing with. Then give business attorney Eric Helmy a call or email to discuss strategies for your case.Contact Us
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