HOW CAN WE KEEP OUR BUSINESS DISPUTE OUT OF THE COURTROOM? (PART 1)
Whether we think about disputes in our personal life or in our business life, one thing is for sure: we try to avoid them or resolve them as quickly as possible. Another thing is pretty clear as well: they are inevitable. Through certain disputes comes more understanding and growth in a relationship and that very same concept can be applied to a business too.
In general, of course, it’s in our best interests to live our life in a way where disputes can be avoided altogether. But is that possible when it comes to your business? Is there really a way to keep your business out of the courtroom? To some degree, yes, but it’s also important to understand that in some cases litigation is the right option for a company as they try to protect their livelihood.
One of the best ways to make sure a dispute does not move into the courtroom is to clearly communicate with all parties. This means business partners need to read all emails, contracts and documents associated with any business agreement and make sure that they are carefully drafted.
Communication should also be open within your business. If your employees feel comfortable sharing their concerns openly, this may be a great way to catch an issue that could have caused a lawsuit.
If an issue does come up, it can be helpful to look at the dispute from the opposing perspective. This doesn’t mean you will give in to their demands but it might allow you to see what their motivations are, which could help both sides reach a quicker resolution.
Next week we will share more tips on how businesses can potentially avoid litigation.