Companies owned by Jill and Cheryl had been embroiled in a business disagreement for months. Their fight had taken a toll on them, both personally and professionally. They needed to move on but had no idea how to make this happen. Fortunately, their attorneys suggested that mediation might be the answer they were seeking.
Types of Business Disagreements
Companies may end up battling over just about anything, but certain issues seem to be common:
- Partnership disputes.
- Discrimination against employees or customers.
- Contract disputes.
- Intellectual property infringement.
- Enforcing non-compete agreements and non-disclosure agreements.
One thing to keep in mind is the ways that your business disagreement affects your business. Disputes over legal or business issues may prevent you from focusing on your company’s goals. In addition, the stress of worrying over the outcome of your business disagreement could cause physical problems. Finally, employee morale may suffer, which could lead to the loss of key employees.
Ending the controversy quickly seems important, but how can you do it the ‘right’ way?
Several Ways to Settle Your Business Disagreement
It is crucial that you discuss the situation with your business attorney or corporate counsel. He or she may have suggestions on how to end your business disagreement, including:
- Negotiation. You and your attorneys could try to negotiate directly with the other party to your dispute. In some cases, this method works.
- Litigation. Filing a lawsuit may help the other parties get serious about settling. However, business litigation can be a drain on you both physically and financially.
- Arbitration. This method of alternative dispute resolution involves placing your business disagreement before a panel of arbitrators. Typically, their decision is legally binding.
- Mediation. As another form of alternative dispute resolution, mediation often helps battling business owners reach a mutually-agreeable resolution.
You and your lawyer can discuss which method or methods are appropriate for your situation.
Why Mediation Might Be the Answer
As you attempt to settle your business disagreements, you may learn more about the advantages of mediation:
Cost. Mediation is typically less expensive than litigation.
Privacy. Decisions reached during mediation may remain confidential while business lawsuits are tried in public.
Control. Unlike litigation, you and the other parties choose who will handle your mediation. The mediator does not hand down any orders or force the participants to settle. Instead, the mediator serves as a facilitator who helps the parties reach a settlement, if possible.
Focus. Often, mediation focuses on finding solutions to your business disagreements while also understanding that you may need to continue your business relationship.
Mediation can be used to handle a variety of situations. Is it right for you?
Learn More About Mediation and Your Business Disagreement.
The advantages of mediation might make it attractive as a better way of settling your business disagreement. Just make sure you talk with a business lawyer before attempting to mediate legal disputes.
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.