Many of the lawsuit advances LawMax offers are made to individual plaintiffs involved in auto, workplace or premises accidents, medical malpractice cases, products liability lawsuits and wrongful death suits. However, LawMax also offers lawsuit advances to businesses.
Many of the same issues that relate to personal plaintiffs also apply to businesses involved in lawsuits. For example, products liability cases can just as easily affect a business as an individual. A business may purchase a product that injures an employee, the business’s inventory, or even the business’s building or equipment. A business can also be the plaintiff in a wrongful death settlement lawsuit when a key executive or employee at a business dies, and his or her death negatively affects the operation of the enterprise. Replacing that executive, and training and orienting a replacement, can be costly to the business as the lost employee may have had skills or knowledge imperative to a business’s successful operation.
Businesses, of course, can also become involved in cases that are unique to companies. For example, tortious interference cases may be a factor when one business interferes illegally with the operations of another business. In these cases, the business plaintiff may have lost customers, sales, market share and profits due to the illegal actions of another company. Businesses may also become involved in trademark or patent cases when intellectual property is used without permission or is used inappropriately. Often, these cases can cost a company considerable revenue since trademarks directly influence customer loyalty and buying patterns. If another company misappropriates a logo or slogan, that company is effectively taking customers from the business that rightfully owns the trademark. debt collection statute of limitations
For an individual plaintiff lawsuit advances often replace lost income. For businesses they replace lost revenue. In many cases, lawsuit advances can mean the difference between a company staying in business or closing its doors. If a business has a good case, the management team has the option of closing the doors and awaiting the proceeds of the settlement before it re-opens its doors. The problem is that the case may last months or years. During this time, the business will lose all the goodwill it has established over years of operation. The business will lose its customers to the competition, and its employees to other businesses. For most enterprises, its customer base and its workforce are it most valuable assets and they are assets that cannot be easily replaces. When the case is won, the business will essentially have to start all over again as if it were a totally new company. The business will need to spend a substantial sum to find a location, purchase inventory, recruit new employees, train those employees, and re-establish itself. The costs of essentially setting up a new business can be far more expensive than the cost of securing lawsuit financing to provide the working capital necessary to keep an established business in operation!
Lawsuit advances for businesses help companies avoid this common problem. With lawsuit funding from LawMax, a business has working capital to cover operating expenses, wages, inventory and other costs. The business can remain an operating entity while awaiting the outcome of a lawsuit. Best of all, with lawsuit advances, businesses do not need to lose their customers or employees to their competitors.