Here are a few common examples of engagements involving commercial damages where our knowledge and expertise have been particularly useful:
Breach of Contract
Our professionals are retained by attorneys to calculate the damages suffered under a contract breach. When any business entity or person fails to complete the contract terms, they may be found in a breach of contract. These breaches can include a failure to deliver the goods as promised, failure to pay according to the agreement and the failure to complete a job. The law has designed remedies to make the injured party whole again. It is our job to determine the actual damages caused by that breach, by calculating the present value of the lost profits. All of our comprehensive damage reports contain the background facts, the economic and industry conditions, the economic outlook, the theory and our summary of the damages.
Breach of Non-Compete Agreements
A non-compete agreement is a contract where an employee agrees not to compete with the employer. The non-compete agreement may be for a restrictive time period, a specific location or a particular company upon termination of their employment. If an employee leaves his current business and starts his own business or joins a competitor, while ignoring his non-compete and causes monetary harm to his prior employer, our firm is hired to calculate those damages.
Our professionals are retained by attorneys to calculate the lost-profit damages in commercial cases. Many of these claims occur due to contract disputes, unfair competition, misappropriation of trade secrets, anti-trust claims and tortious interference. In lost profit cases, the plaintiff must show that the defendant’s wrongful act (1) caused the loss, (2) the loss was foreseeable and probable, and (3) the amount of the loss can be established with ‘reasonable certainty’.