Managing a business
comes with pros and cons. One of the disadvantages of running a business is
dealing with business disputes, which is often inevitable. Not all business
disputes require legal intervention however they can lead to stall your
company, tarnish relationships and waste your precious time and money. A lawyer
in Toronto ON answers questions related to business disputes.
What are the common
business disputes?
Employment disputes
The issues related to
employees may vary from benefits, contracts, terminations, and claims of
discrimination. Some of these disputes can be avoided or even minimized by
following legally precise contracts.
Inter-business
disputes
When you're in an
industry competing with other businesses, there's no way to avoid conflict. You
are likely to come across various problems such as trademark infringement,
interferences in contracts etc. In these situations, it is important to consult
a professional to handle the situation.
Consumer conflicts
Your business cannot
run without consumers however sometimes they can cause various conflicts. From
negative online reviews to lawsuits the problems that you can come across vary.
It is very important to be aware of the state laws before you operate a
business and have a competent counsel prepared to help run your business
smoothly.
How do you resolve
business disputes?
There are three
professional methods to resolve business disputes. Even though this is a vast
topic and will vary according to the situation, the most common resolution
methods are,
Mediation
A neutral third party
or professional mediator will help work out the conflicts between the two
parties. Mediation will allow parties to vent out their issues openly.
Arbitration
An arbitrator is also
a professional who works as a third party to resolve a dispute. The arbitrator
will listen to both sides and will give a judgment, which will be considered
final. The difference between a mediator
and arbitrator is that the former does not give judgment.
Litigation
Litigation is the
most common type of conflict resolution system. Civil litigation involves the
offender and petitioner trying to resolve their problem before a judge and
jury. The judge will be making the final decision along with the jury.
