A partnership that originally began as an amicable relationship can often deteriorate when two individuals have different visions for the business. While some of these disputes are easy to resolve, others require a bit more effort; some might even necessitate the consultation of a top business lawyer. Once both parties have decided that legal help is required to resolve the business dispute, there are still a few more steps that must be completed to move forward from the issue. Here are some of the top ways in which involved parties can effectively resolve business disputes.
Keeping the dispute out of court. For minor disputes or those where the two conflicting parties are still amicable, keeping the dispute out of court may be a preferable option. This is especially the case for parties hoping to avoid the hefty legal fees associated with going to court. Though it might seem counterintuitive, hiring an attorney may be the solution. Paying a few hundred dollars for legal counsel is especially preferable when comparing that amount to the thousands a drawn-out legal battle between two aggravated parties could total.
Focusing on the solution. If you are a business in NJ a top business lawyer near you will recommend focusing on the solution to the dispute, rather than the argument that caused the problem. An honest effort towards solving the issue and reconciling with the estranged partner begins with good timing. Avoid approaching the other party in the middle of the workday, as it will be difficult to focus on the dispute without distraction. Once both parties are sitting down, the goal is not to win an argument about whose approach is better, or to prove that the other party is the reason for the dispute. Rather, the goal is to reach a specific solution that both parties will be comfortable agreeing to. If reaching such a compromise seems especially daunting or impossible, legal mediation will help smooth the conflict while simultaneously reaching solutions that everyone will be amenable to.
A mediator is a neutral, non-confrontational individual who will work with both parties to reach an agreeable solution and resolve the dispute without initiating any more arguments. In such instances, the decision reached with the help of the mediator may be considered legally binding if both parties agree. In order to reach this point, the mediator will first help each individual present his or her positions in a non-aggressive manner. This will help move things forward and avoid more undue harm to either party. Next, the mediator will facilitate an evaluative discussion that allows each party to determine their course of action. They may even recommend dissolving the partnership for the sake of the business. They might also suggest consulting an attorney who could provide a new perspective on resolving the dispute and prevent other, similar arguments from happening in the future.
Preventing further disputes. One way to prevent business disputes from occurring in the future is to develop a written agreement or contract between the parties that clearly outlines procedures to follow in case of a disagreement. If one individual has a question about the policy to follow in a certain situation, a written agreement available for consultation will aid him or her in determining the best course of action without aggravation. The presence of such an agreement will also help avoid a feeling of mistrust that may occur when one party directs another in a way that one might feel is unfair. Strict adherence to the contract can prevent further business disputes from occurring, and will help resolve current issues festering within the partnership. Contracts are imperative for any business relationship because they clearly outline the steps that should be taken within the business partnership. For those who may need additional assistance drafting a contract or who would like to have their current contract or agreement reviewed, there are business lawyers available to assist.
For business relationships or partnerships that are in need of a top business lawyer for mediation, or even for those who need assistance with developing a written business agreement, contact a local New Jersey law firm that does contracts to help resolve the business dispute. A business lawyer has the experience and expertise necessary to effectively remedy the situation so that both parties can reach an agreement and overcome their dispute.