Why Mediation is a Great Tool to Resolve Business Partnership Disputes

Are you locked in a dispute with a business partner? It can be stressful to try to find a solution. In many cases, mediation is the best course of action. The Florida Bar explains that mediation is a non-binding process where parties work together to resolve their dispute. Within this article, our Miami partnership dispute attorney highlights the key reasons why mediation can be an excellent tool to resolve business partnership disputes in Florida.

A Non-Adversarial Option 

Even if there is a serious dispute, business partners often still have mutual interests. Mediation brings business partners together in a cooperative environment. Unlike litigation, it is a non-adversarial setting. If a partnership dispute ends up in court, the relationship can become even more strained. Litigation almost invariably means the end of a business partnership. In contrast, mediation could help business partners work towards a solution that preserves a relationship.

 Save Time and Save Money 

Going to court is not only time-consuming, it can be expensive. Legal fees can add up, thereby draining some resources that could have been better used within the partnership business. Mediation is a still formal and structured process that offers a potential for a much quicker, less costly resolution.

 Flexibility to Resolve Matter 

While mediation for a partnership dispute is structured, it is far more flexible than litigation. Indeed, mediation offers a level of flexibility rarely found in the courtroom. The business partners will have considerable latitude to tailor the process to their specific needs. In some cases, mediation involves business partners talking directly. In other cases, they spend a lot of time separated.

 Allows Confidentiality 

Litigation is not private. On the other hand, mediation is largely confidential. For this reason, privacy is another key advantage of mediation. The core confidentiality of the mediation process allows business partners to discuss issues openly without fear of public exposure or damage to their company’s reputation. Confidentiality also encourages honesty and transparency.

Non-Binding (Keep Doors Open) 

You can try mediation for a business partnership dispute without closing the door to all other available options. Mediation is non-binding—meaning that the parties are not legally obligated to agree to anything unless they can actually find a solution that works for their specific partnership dispute. What happens if you give mediation a good faith effort and it does not work for your partnership dispute? You have the right to withdraw, walk away from the process, and pursue other options. You could try arbitration or even litigation after an attempt at mediation.

 Locked in a Partnership Dispute? Contact Our Law Firm Today

At Pike & Lustig, LLP, our Florida partnership dispute lawyers are skilled, experienced, and solutions-oriented advocates for clients. Have any questions about mediation for partnership disputes? We can help. Contact our law firm today to set up your completely confidential case review. With offices in Miami and West Palm Beach, our law firm helps clients navigate partnership disputes throughout the surrounding region in South Florida.