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LexisNexis Practical Guidance®
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- Business disputes
- Remedies
Account of profits
An account of profits is a discretionary remedy whereby a party that has been wronged by another party may obtain the profits that the wrongful party has acquired as a result of the wrong committed.
Unlike damages, an account of profits is not designed to put the wronged party in the position in which it would have been if the wrong was not committed. Accordingly, the wronged party does not need to show that it has suffered damage in order to avail itself of the remedy.
Generally a successful wronged party must elect between the remedies of damages or an account of profits.
See Account of profits.
