The Benefits of Alternative Dispute Resolution for Businesses
As a business owner, it can be difficult to face legal complications. The expense, time, and stress of these actions can place a great strain on you and your business. Litigation for businesses can be very expensive, and the proceedings will be made public record, which can harm your business and reputation. There may be other options, depending on your situation.
What is Alternative Dispute Resolution?
Alternative dispute resolution is an informal, confidential process to resolve legal disputes. It cannot completely replace traditional legal processes of dispute resolution, but it can give participants a greater say in the process. Alternative dispute resolution includes methods such as mediation, negotiation, and arbitration.
In mediation, the parties work with an impartial third party to develop an agreement. In negotiation, parties and their attorneys collaborate to come to a resolution. In arbitration, a neutral third party will hear both sides of the dispute and will deliver a decision. These options are more streamlined and cost-conscious than litigation in many situations.
Why Use Alternative Dispute Resolution?
These forms of dispute resolution offer many benefits to business owners, including:
- They are simpler than traditional litigation.
- They can cost less than traditional litigation.
- You have a greater amount of influence on the outcome of your case.
- These are non-escalating, informal approaches to dispute resolution.
- The discussions of alternative dispute resolution methods are confidential.
- These are more cooperative methods of dispute resolution and can be more satisfactory for all involved.
Discuss Your Options with Our Dallas Business Litigation Lawyer – (214) 361-6740
If your business is facing legal action, alternative dispute resolution may be an option for your case. There are a number of benefits for both parties, which may make it easier to resolve your dispute. At The Hunnicutt Law Firm, our Dallas business litigation attorney is well-versed in the forms of alternative dispute resolution and can help you get the results you want.
Contact our offices to get started. Call (214) 361-6740 to schedule a consultation.