Business disputes are common, but they are not always expected. They are never welcome. Disputes can arise right from the very start during the formation of a business, all the way through its life to the point that it changes hands or is dissolved. The key to successfully handling a business dispute is finding a way to resolve it that uses as few resources as possible and does as little damage as possible to the parties who were wronged.

Several methods of alternative dispute resolution can help.

These methods include:

Negotiations between Disputing Parties
Negotiation is the most basic means for settling disputes and it tends to leave parties feeling confident and capable. In many cases, business negotiations can occur without any third-party interference, but many businesses tend to bring in attorneys to ensure everyone is treated fairly and that the agreed upon resolution is in everyone’s best interest. Attorneys can also be helpful for ensuring the final outcome of a negotiation is legally enforceable.

Mediation
Mediation is a voluntary process that brings together those involved in the dispute with a neutral third-party. That third-party, the mediator, is there to promote communication and assist parties in reaching a mutually acceptable agreement.

Mediators do not levy decisions or make any legally binding rulings. Their role is to manage the overall process and helps facilitate respectful negotiation between the parties. Nobody is forced to adhere to anyone’s decisions and anyone involved is free to end the process at any time.

There are numerous benefits to mediation, including privacy, ability to voluntarily accept or reject a settlement, and reduced cost and saving of other resources. Parties are also in control and can develop a win-win resolution.

Arbitration
Arbitration is the process of submitting the disputed issue to an impartial third person. This arbitrator makes a final decision in a manner similar to what a judge or jury would do in a litigated case. However, the arbitrator is not bound to the formalities of the court and can offer more creation solutions. It’s also possible to utilize any headway parties made on their own in private negotiations or mediation and apply those solutions to the final outcome. Arbitration is also private and can offer protection to parties involved.

Litigation
Litigation is likely what most people think of when they consider business disputes. Unfortunately, it is usually the least amicable and efficient way to resolve a dispute.

Many lawyers and business professionals have begun to view litigation as a last-resort option that should only be pursued if mediation, arbitration, and other negotiation attempts fail. Litigation is not only expensive and time-consuming; it is also a public process, which means everyone will have access to the details of the case. This can be especially damaging for businesses that are trying to protect their reputation and maintain positive relationships with the public and other associates.

Of course, there are situations in which litigation is the only option.

For more information or for help resolving your business dispute, contact Alan Tuck at 941-650-4932.

Alan Tuck Mediation
www.alantuckmediation.net/