How to Know if Alternative Dispute Resolution is Right for Your Business

From minor internal concerns to major financial decisions, business owners tackle issues every day. However, entrepreneurs may not always be able to resolve more significant disputes internally. Certain situations may call for the assistance of a business litigation attorney to advise a company on a realistic strategy to resolve a disagreement. Alternative dispute resolution methods give businesses the ability to address a range of problems through a process that benefits all parties involved. Read below to learn if alternative dispute resolution is right for your business and how the Dallas law firm of Ritter Spencer Cheng PLLC can help. 

You need the issue resolved quickly.

One of the most appealing benefits of alternative dispute resolution is the speed with which many issues can be resolved. Going through the legal system to address a business dispute is  extremely time-consuming and costly. With arbitration or mediation, parties may discuss any disagreements without needing to wait for the court system to proceed. Fewer participants in the alternative dispute resolution process allow all parties to have more freedom and come to a resolution more quickly.

You want the problem addressed outside of the court system.

Alternative dispute resolution also encourages companies to resolve issues more privately than in the public court system. From contract disputes to business partnership conflicts, arbitration or mediation enables parties to determine a wide range of solutions without decisions or conversations becoming available to the public. Additionally, addressing disputes outside of the court system allows all parties to save on the various fees that are associated with formal legal proceedings. If you are unable to reach a satisfactory agreement through mediation or arbitration, your business may still have legal options available.

You have a mediation or arbitration clause in a contract.

In many cases, individuals or businesses may be contractually obligated to attempt to address a disagreement through an alternative dispute resolution process before considering litigation through the courts. Many contracts contain a mediation or arbitration clause to protect both individuals and companies from costly court expenses and encourage resolution if it can be achieved more quickly and easily through alternative dispute resolution. Even if your contracts do not require arbitration or mediation prior to transitioning to a lawsuit, any party can request a method of alternative dispute resolution if desired.

If you are unsure if alternative dispute resolution is right for your business, you can always work with a business litigation attorney to find the strategy that works best for you. The experienced team at Dallas law firm Ritter Spencer Cheng PLLC can suggest several options to address commercial disputes that will ideally lead to a successful resolution. Our commercial litigation attorneys have successfully negotiated numerous disputes, ranging from breach of contract issues to defamation lawsuits, to most benefit our clients. Whether your business needs a strategy for alternative dispute resolution or is ready for commercial litigation, the team at Ritter Spencer Cheng PLLC is here for you.