In 2016, the construction market in the United States was worth approximately $1,162 billion. But for all the business that the American construction industry does on a yearly basis, there are lots of construction industry court cases.
In 2015, the American Arbitration Association (AAA) administered 551 construction industry cases with claims of $500,000 or more. The largest mediated construction case was $2.6 billion and the largest arbitration case was $96. All told, the total value of all claims and counterclaims in 2015 was $5.5 billion.
For all the money the construction industry brings in, the industry eliminated more than 40 percent of its workforce between April 2006 and January 2011 as advancements like drones and 3-D printing have helped engineers and architects improve safety and accuracy.
Even with improved safety and accuracy, a construction lawyer can still be a big help to a construction firm. As with other fields of legal expertise, attorneys specializing in construction law and the construction industry know how to help construction companies. The benefits of hiring the right construction attorney include:
- Knowledge: Lawyers for construction companies specialize in all aspects of construction law. Lawyers for construction companies can help those firms understand their legal rights and give them fair representation in court. Whether it’s business planning, contract drafting or representation in personal injury lawsuits, attorneys can provide a big boost with their knowledge of the industry.
- Conflict Mediation: Construction attorneys can help bring solutions to the table in conflicts and help avoid litigation. Avoiding court battles saves companies money, time and aggravation. Every claim or lawsuit is different, but construction attorneys are able to use their knowledge of the industry to solve problems through meditation and litigation.
According to the American Arbitration Association, alternative dispute resolution (ADR) is the preferred conflict-management process in the construction industry. The median time frame from filing to award for 2015 construction arbitration cases was just 232 days, or less than eight months.
- Experience: At its core, the construction business is all about maintaining relationships between contractors, laborers, suppliers, engineers and many other parties. Lawyers for construction companies can help since there is plenty of overlapping in those relationships.
You might be asking, how can a lawyer help my company? Lawyers for construction companies bring a vast among of knowledge and can use several forms of mediation to avoid spending time in court. When it comes to finding the right construction attorney, be sure to check his/her credentials, ratings and area of expertise.
Trackback from your site.