The Hidden Damages Most Businesses Miss

transcript

0:02

2 secondsLet's talk about damages. Damages are a critical  component of any case, and a great lawyer will  

0:08

8 secondsmake sure you get all of your damages paid if  you're involved in a lawsuit. So, what damages are  

0:15

15 secondsis a way of saying, look, something has gone wrong  and you've been damaged in some way and you're   owed money. There are two types of damages.  One is consequential damages and the second  

0:25

25 secondsis punitive damages. So the first consequential  damages. Think about consequential damages as the  

0:31

31 secondsconsequence of whatever somebody else did. Let  me give you an example of consequential damages.  

0:38

38 secondsI represented a client who had a website that  was very successful in the e-commerce space and  

0:44

44 secondsshe was getting ready for Black Friday and she  hired a third-party vendor to redo her website.  

0:52

52 secondsThis third party vendor also told her that they  needed to revamp the backend that fulfills the  

0:57

57 secondsorders. And she told the vendor that she was  expecting millions in sales on Black Friday  

1:05

1 minute, 5 secondsbased on her historical sales. So she hired this  vendor and ultimately the vendor didn't do what  

1:12

1 minute, 12 secondsthey were supposed to do. They completely messed  up the backend of this website during what was  

1:18

1 minute, 18 secondsthe best sales period for her website throughout  the year. Unfortunately, the client lost millions  

1:25

1 minute, 25 secondsof dollars in sales because the developer  failed to do what they were supposed to do. So,  

1:31

1 minute, 31 secondsthis is a breach of the contract. So, she was  able to go after the website vendor as a direct  

1:38

1 minute, 38 secondsresult of their failure to set up the website  correctly. Now, of course, the vendor argued,   "Look, we didn't get paid millions of dollars  for this. We're not responsible for millions  

1:48

1 minute, 48 secondsof dollars of damages." But the reality is  that vendor was responsible because they knew   that she needed this website for her Black Friday  sales. They knew she was expecting a high amount  

1:58

1 minute, 58 secondsof volume. They knew that she wouldn't be able  to fulfill the orders from her website if they  

2:03

2 minutes, 3 secondsdidn't do the website correctly. So ultimately,  they took responsibility for the damages if they  

2:10

2 minutes, 10 secondsdidn't perform on their end of things. And it  doesn't matter that they weren't paid millions   of dollars to develop the website. The reality  is they took the responsibility to develop the  

2:20

2 minutes, 20 secondswebsite correctly and their failure to do it. And  the damages that resulted from their failure to do  

2:26

2 minutes, 26 secondsit correctly are considered consequential damages.  Think about consequential damages like dominoes.  

2:32

2 minutes, 32 secondsIf somebody pushes that first domino, every  domino that falls after that first domino as a  

2:38

2 minutes, 38 secondsresult of that first domino being pushed is their  responsibility. It's a natural consequence of that  

2:43

2 minutes, 43 secondsfirst domino being pushed and their appropriate  consequential damages. The right lawyer will help  

2:49

2 minutes, 49 secondsyou figure out exactly what your consequential  damages are because this subject is a lot more  

2:55

2 minutes, 55 secondscomplex than it might seem. There's a lot of  itemized consequential damages that your lawyer  

3:01

3 minutes, 1 secondwill be able to help you think through. So, make  sure you talk to your lawyer before you go after  

3:07

3 minutes, 7 secondsthe other side. Make sure you're not leaving money  on the table. Let's talk about the second type of   damages, punitive damages. While compensatory  damages are to compensate you for the harm,  

3:16

3 minutes, 16 secondspunitive damages are to punish. And in California,  it's Civil Code Section 3294 that talks about what  

3:23

3 minutes, 23 secondskinds of cases punitive damages are available  in. Punitive damages are really only available  

3:30

3 minutes, 30 secondsin cases where somebody does something malicious  or intentional or fraudulent. Think about somebody  

3:36

3 minutes, 36 secondspunching somebody else. Now, normally that's a  criminal case, but there's also a civil component   to it. If somebody intentionally harms somebody  else, that can be willful or malicious conduct  

3:47

3 minutes, 47 secondssuch that it can be subject to punitive damages  to punish the person. Now, normally the law is  

3:53

3 minutes, 53 secondsthat you're not supposed to punish somebody for  accidentally doing something wrong. For example,   you're not supposed to get punitive damages  just because somebody accidentally ran their  

4:03

4 minutes, 3 secondscar into your car. You're not supposed to  get punitive damages if somebody breaches  

4:08

4 minutes, 8 secondsa contract just because they didn't really know  what they were doing. But you can get punitive  

4:14

4 minutes, 14 secondsdamages if somebody intentionally tries to harm  you or if somebody fraudulently rips you off or  

4:20

4 minutes, 20 secondsis running a scam. You can get punitive damages.  And the nice thing about punitive damages compared  

4:26

4 minutes, 26 secondsto compensatory damages is punitive damages are  generally not dischargeable in bankruptcy. So,  

4:32

4 minutes, 32 secondsif you get punitive damages against somebody,  they're not going to be able to declare bankruptcy   and get out of it. So, make sure you talk to  your lawyer about the opportunities to get  

4:42

4 minutes, 42 secondsboth compensatory damages and potentially punitive  damages so you're not leaving money on the table.  

4:48

4 minutes, 48 secondsIf you have any questions about this, reach out to  me. My office and I are happy to help you. [Music]