The Brave and the Bold: Blogs About Business Attorneys

If your small business is involved in a conflict involving another company, an employee or other parties, you should think about choosing dispute resolution over litigation. In general, this option is more beneficial because it will help you keep your disagreement confidential. Litigation tends to draw attention and might compromise your business image, causing loss of customer trust. Also, alternative dispute resolution is inexpensive and quite time efficient. Here are four simple tips for successful resolution of your commercial disputes.

Understand the Options

You should understand and select the best dispute resolution option for your case. In general, you can choose mediation or arbitration. Both methods have their benefits, so you will need to determine which best ensures a favourable outcome. Mediation is an informal process which is facilitated by a professional. The third party will help in negotiating a good outcome, but the final decision is not theirs. Arbitration, however, is more formal and involves bringing a dispute for hearing before an impartial party. The final decision will be made by the third party.

Keep an Open Mind

When going through the dispute resolution process, you must keep an open mind. In simple terms, do not approach the matter with the concrete assumption that you are right. Dispute resolution is not about winning. It is about coming to an amicable agreement where both parties win. If you are open-minded you will be able to protect your business relationships and avoid further legal action. Therefore, when the session begins, you should listen and imagine yourself in the other party's situation.

Collect Documents

When preparing for dispute resolution, you should collect relevant evidence. Often, business relationships become sour because of broken promises and unscrupulous behaviour. However, if you cannot support your claim, you will lose the battle immediately. Therefore, if the other party is accusing you of poor practices or you feel they have wronged you, you must have evidence. In addition, if the other side makes an accusation, you should request evidence supporting the claim.

Know Your Obligations

You are responsible for your business partners, suppliers, customers and employees in different ways. Unfortunately, it is possible to overlook your duties and ignore your responsibilities to other people due to the lack of knowledge. Therefore, if you are facing claims of neglecting your obligations, you should check relevant rules and obligations before attending the dispute resolution session. Ignorance will cost you time and money.

If you are uncertain about how to go about the dispute resolution, consult a small business dispute resolution lawyer.