Why Has America’s Construction Industry Lost Over 40% Of Its Workforce?
Why does my business need an attorney? This may seem like an extreme question to ask, especially when you go out of your way to make sure you follow everything by-the-book. You pay close attention to the satisfaction of your customers, regularly update your contracts, file your taxes and do everything in your power to adhere to local and nationwide laws. When that’s not enough, however…it’s time to reach out and ask for a little extra help. Commerical litigation services and labor law are fields that are best handled by the professionals.
Rather than leave the fate of your business up to chance, learn more about commerical litigation, employment law and what a lawyer can do for you when times get rough.
The construction industry is one such field that needs to keep a close eye on commerical litigation and labor laws due to the routinely hazardous nature of building, repairing and modifying. The year 2016 saw the American construction market making over $1,000 billion, a number that also sees a significant amount going to insurance, commercial litigation and the appeals process. When the span between April of 2006 and January of 2011 saw over 40% of the workforce leaving, it’s important to remain updated on changes.
What are ways that both businesses and workers can be taken care of in the grand scheme of things? Builders risk coverage is one way. These create a minimum one-year term to cover a new building or structure undergoing construction. These include additions, alterations or repairs in that span of time. ISO’s Builders Risk Coverage Form is used as the basic avenue to mitigate risk coverage in a simple manner, allowing everyone to feel secure in their day-to-day work.
When it comes to parts of the industry that don’t go as smoothly, however…you’ll want an attorney by your side to help you sort out numbers, figures and meetings. According to the American Arbitration Association, arbitration cases are resolved much faster than litigation. Statistics provided by the federal court have shown the average length of a jury or bench trial for civil cases is more than two years. The largest case resolved by a single arbitrator was a claim of $232 million. On the other hand, the smallest claim was $23,000.
What are common issues you should consider before hiring a lawyer? According to the very first national study of both civil bench and jury trials, breach of contract cases make up over 30% of civil cases filed throughout state courts. There’s no shame in admitting that the details of the legal system can fly over your head from time to time. Knowing when to make an appeal or when to just sit with an attorney and talk it over can help immensely with keeping your business in the green.
The U.S. Census Bureau recently reported that the value of the American commercial construction industry is at an impressive $437 million. Use your money wisely and get the help you need so your brand, your employees and your customers can proceed without fear.