There is no blanket approach to resolving business disputes, and it can be a long and drawn-out process depending on the issue. However, there are various methods to do this, and one way might work better than another for everyone involved. Here are some of the best methods.
Negotiate Using Good Legal Representation
First and foremost, you need good legal representation. If not for anything else, your lawyers can negotiate the best terms for you and argue your case. Suppose, for example, one of your delivery drivers was hit by the truck of a supplier, a professional team of attorneys that you can count on is necessary to begin proceedings. They can negotiate on your behalf in a way that aims to control the narrative towards that ultimate solution and outcome you are hoping for.
In most cases, the issue requires a third party to mediate the proceedings in legal and business disputes. You will find these are often less formal, and they don’t even require a professional mediator. You can have someone appointed, such as a friend or advisor. Of course, you can opt for formal mediation, where a professional is appointed. In either case, the mediator examines the case and puts forward a mutually acceptable yet also a legally binding agreement.
Resolve Business Disputes from a Proposal
There is an alternative to mediation known as conciliation. Conciliation is very similar to mediation. However, it is more formal, and rather than a mutual agreement, a professional conciliator offers a proposal based on the evidence of the case. You don’t have to immediately accept the proposal, and in most cases, you will work with other parties using the conciliator proposal as a foundation. From there, any agreements you make can become legally binding.
Arbitration Between Parties
When negotiation, mediation, and conciliation aren’t enough to satisfy all parties involved, a more formal alternative is arbitration. Arbitration takes the form of litigation, where legal arguments are put forth. While it is more formal, it is also more efficient in that you can use highly skilled lawyers for arbitration. Both parties can also agree on specific rules, including the number of arbitrators involved, the maximum fees, and where the arbitration process happens.
Legally Binding Judgment
Just like you can appoint expert attorneys in your case, you can decide to have a professional judgment from a qualified and serving judge. However, you cannot appoint a judge, and this is done by the court. A judge will hear and analyze the case and make a decision based on facts and the law. The upside to this is you get expert and impartial analysis, and a judge can resolve a case quickly. However, a judge’s decision is final and always legally binding following a case.
There are a few ways to resolve business disputes that may arise between you and another party. Your legal team can negotiate on your behalf outside of a courtroom. You can also settle for conciliation where a third party proposes a solution. Or have the case decided by a judge.