Filing a claim for compensation can be an important step toward justice when you incur a financial loss or injury due to the actions of another person. If you are facing a situation involving any kind of damage, it is essential to know the law. Experienced litigation lawyers in Perth can provide guidance to effectively navigate the complicated claims process and increase your chances of obtaining a just settlement. Here are five things you need to know before you make a claim.
Not every disagreement is eligible for compensation. In order to successfully claim, you have to demonstrate that there is a legal basis to do so, for example, breach of contract, negligence, personal injury, or misrepresentation. Business scenarios, in particular, may lead to compensation claims for things like shareholder disputes, violations of intellectual property, or even the fraud of the company directors.
Solid evidence is necessary to build a strong case. These may consist of written contracts, correspondence, financial documents, or reports by experts. Even what appears to be a valid claim can collapse in court without sufficient proof. The right grounds will make sure that your claim has a legal basis and that you are advancing a case that you can win.
Compensation claims are governed by strict legal time limits called limitation periods. The deadlines vary by claim type and can be a matter of weeks or several years. This is generally a set period starting from the date of the incident or when the claimant realises he/she has suffered harm.
If you fail to act timely, you may lose your right to claim. There are some exceptions in cases of fraud or when the damage is discovered later. Consulting a legal expert early ensures that you remain within the permitted timeframe and avoid unnecessary delays in seeking compensation.
In a corporate dispute, the stakeholder will need to assess potential liability beyond the company itself. You might have grounds to claim against directors personally if they acted wrongfully or fraudulently and caused financial loss. This is especially true in cases involving misrepresentation, breach of fiduciary duty, or illegal trading.
For example, if a director knowingly participates in fraudulent behaviour or intentionally deceives investors, they may be held personally responsible for any resulting financial losses. But these claims are notoriously complicated because directors are typically protected by corporate law. An experienced commercial litigation lawyer can help you assess whether your case is viable and which legal strategy is best for you.
The specific type and amount of compensation awarded will depend on the nature of your claim. Compensation can generally be divided into two categories:
If your claim relates to a business, you may be entitled to loss of profits, consequential losses or damages for breach of contract. When determining the amount to be awarded, courts or dispute resolution bodies take into consideration the level of harm caused, the financial losses suffered, and the long-term effects. Knowing what you can claim will help you reach realistic expectations for redress.
You can deal with specific claims independently, but the possibility of success ie limited when you do not have expert legal support behind you. Lawyers can help collect evidence and negotiate a settlement. They can also represent you in court if necessary and ensure compliance with procedural mandates.
Legal experts also explore alternatives to litigation, such as mediation or arbitration. Both can settle disputes quicker and at less expense than going through court. They advise you on the steps to take—negotiations, legal notice, litigation—ensuring risks are kept to a minimum, particularly in terms of complex commercial disputes or high-value claims.
Claiming compensation can be a complex process. Consulting a commercial litigation lawyer ensures that you take the correct legal steps and maximise your chances of obtaining fair compensation. If you think you have something to claim, then do it quickly and talk to a professional legal advisor to safeguard your rights.