When I started getting serious about my business and building my brand, I realized that I wasn't prepared to handle any legal problems that we might come across. I didn't know how to defend myself against allegations of wrongdoing in the business realm, but my company was getting large enough that it started to attract some unwanted attention from competitors. To set things straight, I decided to hire a business attorney to help us out. Our lawyer was amazing, and he went through and coached us so that we would know how to handle problems. I was really impressed with his services. This blog is all about why you should have a business attorney.
In the world of business, disputes will happen. Usually, things are taken to court. But there's a process known as mediation, a less strict and less final process that can achieve the same results. If two parties want to settle a matter, they can choose to do it with a mediator, a third party that is neutral and knowledgeable in creating solutions for these problems. Usually, family business succession planning is done with parties that have a relationship that they don't want to lose over a dramatic lawsuit. It's just as effective as a lawsuit, but less messy and less binding. The result is a written agreement and shared expenses. If you're a business that's entered into a dispute of some kind, you might want to consider mediation before you head for the judge and jury, and for good reasons.
You don't want to spend too much time and money.
While a mediator will charge you, perhaps more than a lawyer, mediation will still take less time than a lawsuit in court will. Less time means less money spent. Also, you can avoid paying for an attorney and other expenses because both parties on choosing to resolve on their own. So, in the end, it's more cost effective.
You want things to remain private.
Court hearings are public and thus everyone will know about your situation. If you and the opposing party want to keep things confidential, then mediation is the way to go. Only the disputers and the mediator(s) are in the know. The legal system is not even allowed to force a mediator to declassify the information they have from mediation, so your dirty laundry is not aired for everyone to see.
You want to have control.
Mediation offers a lot more control over the process and resolution than a lawsuit will. In those situations, the control is in the hands of the judge or jury. The mediator does not call the shots; you do. The people involved make the decisions, and the mediator is there to advise.
You want things mutual.
A Lawsuit will not likely provide a resolution that is equal between the disputing parties; one will come out more fortunate than the other. If both parties desire for a mutually agreed upon resolution, mediation will provide an even result that they can be happy with.
The issue is not worth a lawsuit.
Some disputes can be small and not worthy of a lot of attention and legal intervention. The legal system does things in a formal process. If the situation is informal, and both parties agree that the issue is minute, it can be handled with mediation.
You need a quick result.
If it's important to have things settled immediately, a lawsuit will not offer the speed you want. It could take years to complete a lawsuit, whereas mediation can be handled in however little time you make it out to be.
You want some wiggle room.
Because mediation is not binding and there is no legal finality to hold by, you have the freedom and ability to return to the issue, if you so wish, and make some changes. Perhaps both parties are not entirely satisfied with the result. They can simply go through mediation again and tweak the resolution. Because of its simplicity, one can use mediation as often as they want.
You want to remain friends.
As mentioned earlier, mediation is often done between two parties that have been working together and don't wish to lose that valuable relationship over a legal dispute. If your business benefits from the other business that you're in disagreement with, you can settle the problem without bringing about future harm because you lost that connection.
Nobody enjoys an argument, especially when it interrupts your business operations. Luckily, mediation provides that other option that's is outside of the legal system and absent of all the unpleasantries that often comes with it.
Share4 January 2017
