If you are a business owner, you have a wide variety of projects and responsibilities to attend to on a daily basis.
You are especially interested in those that move your business forward, but not every day ends on a positive note. What are the most common business disputes you face?
Despite the many laws and regulations a company must follow regarding its employees, problems can still arise. Disagreements may surface over salary issues or unfair termination. An employee may cite discrimination or poor working conditions.
Conflict with partners
Interestingly, disagreement among partners is the most common type of business dispute. When partners are at odds, a simple situation may escalate into a problem that is difficult to resolve. Financial problems, a leadership change, and disputes that arise over hiring and firing or the direction of the company are frequent issues among partners.
Business leaders often call upon litigation attorneys to step in when disputes arise over contracts or financial agreements. Contracts are legally binding. However, one party may fail to honor a contract or act in direct violation of the terms. These may be the easiest disputes to resolve because the breach of contract is usually apparent.
Dissension between businesses
A good business relationship is valuable for both parties and if strong enough can last a lifetime. However, if something threatens to damage the relationship, it is essential to address the problem as soon as possible. Businesses often turn to an alternative dispute resolution (ADR) process to settle their differences outside of court. With ADR, businesses can often preserve their working relationships if that is the desired outcome.