Why Lawyers for Construction Companies are So Important
In the world of construction, there are a lot of regulations, safety guidelines, and laws that must be observed and followed, and for good reason. Construction can be a dangerous field, with extremely heavy equipment and tools being used simultaneously. A lot can go wrong if workers are not careful enough, and sometimes things can go wrong even if all of the rules are being followed. Faulty equipment and accidents can cause serious injury or even death. When mishaps occur on a construction site, it is important that the rights of everyone involved are protected.
Finding high quality lawyers for construction companies
Labor laws can be complicated and difficult for businesses to sift through sometimes. Understanding just what the expectations of your employees can be might take the insight of a helpful and knowledgeable lawyer. But beyond that, it is good to have a solid relationship with a reputable law firm in order to protect the rights of everyone involved with work at your company. A great employer knows that the profit of the company, while important to the success of the business, does not supersede the rights and wellbeing of his or her employees.
In the construction business, this can mean having a good construction law firm just a call away for any incidents or accidents that may occur. Lawyers for construction companies often participate in alternative dispute resolution, also known as ADR, and mediation cases.
Construction lawyers and cases in the industry
Recently, it was estimated that the construction market across the country was worth around $1.2 trillion. A massive industry that performs a huge range of work in a number of ways throughout the nation and for other industries as well, there is actually quite a bit of risk involved. Over the course of one year, lawyers for construction companies took part in 551 cases that involved claims of half a million dollars or more. Among mediated construction cases, the largest was for $2.6 billion, and the largest arbitration case was for $96 million. Altogether, over the course of that year, the value of all the total claims and counterclaims came out to $5.5 billion. In the construction industry, ADR is the preferred method of conflict management, and these cases are typically resolved in less than eight months.
Many people do not really think of the construction industry and law going hand in hand. But for successful construction companies, having a close business relationship with a good law firm is essential for forward progress and continuous success.