Disputes in business are very common and one must be prepared to deal with them before they can cause too much trouble. A wrong approach to the dispute does put your business at more risk. Similarly if you ignore the dispute, you should be ready for trouble in future because you cannot ignore the outcome. There are various methods you can use to solve business disputes including going to courts. However, it is advisable to avoid the courts as much as you can. If you are not contented with the other methods and need court’s intervention, you can consider hiring marc grimaldi medford lawyer to help you provide arguments in court. But, do not be in a hurry to go to courts where alternative dispute resolution methods exist.
What are the alternative dispute resolution methods that a business can apply? A dispute in business will arise from various parties be it suppliers, customers, shareholders or even employees. The first thing you should do is to negotiate with the party and try to come up with a solution without even involving a third arty. This will help you to protect the image of your business because you will not have the members of the public learning about the weaknesses in your business. If negotiations fail, you could consider mediation or even arbitration.
In mediation, you get a neutral party who listens to the case and then facilitates negotiation. The mediator however cannot make any binding decision. On the other hand, an arbitrator in arbitration will make a binding decision and the parties must be ready to act upon the decision made. But why would you choose other dispute resolution methods other than the courts? Well, these methods are faster and cheaper. You will also get to air your views and participate more because there are no rules hindering you. The methods are also confidential and so the public does not get to learn about your problems.