Busy entrepreneurs may not want to spend a lot of time trying to settle a business dispute. It could be crucial to your company’s future to address disagreements, but you might not know exactly how to go about it. We’re going to look at four ways you can settle business disputes that arise.
#1. Negotiation Could Be the First Step to Settle Your Business Dispute
Some disagreements can be resolved by simply talking them out. You and your business lawyer could attempt to work out your problems through one or more phone calls or meetings. Because of COVID-19, meetings can often be held through platforms like Zoom to avoid face-to-face contact.
#2. Mediation Can Get the Parties Together
Mediation is a form of alternative dispute resolution. The mediator, an objective third party, meets with the parties to discuss their business dispute. Typically, the parties then split into separate rooms while the mediator goes from group to group. It’s important to note that the mediator does not order the parties to resolve their differences. Instead, the mediator acts as a facilitator. At the end of a mediation session, the parties might have reached an agreement. If not, they might try methods to resolve their business dispute.
#3. Arbitration Could Be an Alternative to Trial
This is another form of alternative dispute resolution. Arbitration tends to be more formal than mediation but less form – and expensive – than a trial. The parties meet before one or more arbitrators to present their cases. Generally, the arbitrators review testimony and evidence before handing down a decision. Arbitration orders are usually legally binding on the parties.
#4. Litigation Is Sometimes Necessary to Settle a Business Dispute
If your business disagreement cannot be resolved through negotiation, mediation, or arbitration, then filing a lawsuit may be your last resort. Business litigation can be expensive and time-consuming, but failing to resolve your disagreement can also be expensive for your business.
Your attorneys typically will research your issues and review the facts of your case. If litigation is the right choice, you and your attorney will file a petition or complaint in state or federal court. As the case proceeds, you and the other parties will exchange documents. Settlement of your business dispute is possible, even up until the day of trial.
Talk to an Attorney About How to Settle Your Business Dispute
Once a disagreement arises, discuss it with your lawyer as soon as possible. Many disputes arise over contracts. Also, you might be able to avoid some disagreements altogether by having your legal counsel review and prepare contracts for you.
Attorney Richard Sierra at the Florida Small Business Center assists clients like you with business and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.