Dispute Resolution

One of the key ways to run a successful business is to understand dispute resolution. There are many types of ways the businesses can resolve their issues with other businesses, employees, or outside parties. Some of these resolution options include:

• Mediation
• Conciliation
• Arbitration
• Lawsuits

These methods fall into two types of dispute resolution: adjudicative and consensual processes.

Adjudicative Processes

In adjudicative processes, the dispute is settled like many cases in which there is a decision made by an arbitrator, jury, or a judge. In these cases, the decision is final and there is no further imputing after the decision has been made. It is legally binding.

Consensual Processes

In most cases, businesses decide to use consensual processes, because it costs less and there is less court involvement. This is the way most dispute resolutions start, through mediated and negotiation meetings. By talking through issues, most parties are able to get what they want, in exchange for giving up less important things that the other party wants.

Dispute resolution is an important part of the business world. Being flexible and willing to talk will most certainly help you find the common ground needed with your employees, other businesses, and the law to keep your business afloat in the legal boundaries. Many businesses have a dispute resolution team that specializes in negotiation, or at least has a partnership with a law firm that deals in business law.

Contact Us for More Information

If you would like more information on dispute resolution contact the Austin business lawyers of Slater, Kennon, & Jameson, LLP. Call today at 512-472-2431.