In today’s world, business or contract disputes arise in a variety of forms. Business disputes can range from unfair competition to violations of trade secrets. Contract disputes often involve breach of contract, rescission, reformation, and even subrogation, among others issues. But many businesses are unaware of the several alternatives to filing a lawsuit to settle such a dispute.
These alternatives are broadly referred to as “alternative dispute resolution.” These methods are available to entrepreneurs and consumers alike without the need for initiating the costly process of litigation. This may be the perfect choice for businesses where proprietary information, trade secrets, and various other confidential information are at issue and the business does not want the public or media having access to such information and/or allowing for competitors the opportunity to misappropriate the confidential information.
Business litigation attorneys are well-versed and experienced in all areas of both traditional litigation and alternative dispute resolution. If you would like to learn more, contact our firm today to speak with a member of our dedicated legal team.
Types of Alternative Dispute Resolution
This category of alternatives includes:
Benefits of Alternative Dispute Resolution
Alternative dispute resolution provides a fast resolution to disputes, cost savings for both parties, allows the preservation of business relationships, protects confidential information, and allows for more creative solutions to complex issues.
Choosing to use the legal system to solve your business contract dispute will generate a winner and loser, and judgments rendered by the legal system may not solve the problem and are usually inflexible. If you decided to pursue litigation, many of these benefits of alternative dispute resolution will not be realized and you will destroy business relationships as well as expose your proprietary information to misappropriation.
Disputes are costly, no matter which avenue you choose to travel when resolving yours. Alternative dispute resolution provides you with a fair, quick and amicable resolution that will protect your business and relationships.
Consult an Attorney
If you are involved in a business contract dispute, you should not hesitate to contact a professional business litigation lawyer Melbourne, FL relies on who will protect your business and get you the results your business deserves.
Thank you to our friends and contributors at Arcadier & Associates for their insight into business contracts and litigation.