How to Prepare for Mediation With a Business Partner in Florida
Are you trying to navigate a dispute with a business partner? Mediation can be an effective option for alternative dispute resolution (ADR). Before you enter partnership mediation, you need to be properly prepared. In this article, our Miami partnership dispute lawyers provide an overview of the key things to know about getting prepared for the business mediation process in Florida.
Clarify the Nature of the Dispute and Your Objectives
Why are you locked in a business dispute with your partner? What do you actually want to get out of the partnership mediation? These are questions that you must ask yourself and carefully consider before entering the business mediation process in Florida. Indeed, the first step in preparing for mediation with a business partner is to clearly define the nature of the dispute and identify your objectives. The dispute could be over financial matters, differing visions for the future of the business, or any other combination of personal/professional issues.
Know the Areas Where You Can Compromise
Mediation is fundamentally about finding a middle ground. As you prepare, consider the areas where you can afford to be flexible. Think about your priorities and the aspects of the dispute that are less critical to you. That is not to say that you will necessarily have to make a serious compromise. There may be a lot of common ground after you sit down and discuss the matter with your business partner. Still, it is useful to know where you can compromise.
Gather and Organize All Relevant Evidence (Contracts, Business Records, etc)
One of the most important steps in preparing for mediation is gathering and organizing all relevant evidence. Along with other things, relevant evidence in a partnership mediation typically includes:
- The partnership agreement;
- Other contracts;
- Business records;
- Financial statements;
- Correspondence, such as emails; and
- Any other documents that can substantiate your claim.
Be prepared. When you have well-organized, compelling evidence you will dramatically strengthen your claim and put yourself in a far better position during settlement negotiations.
Understand Your Alternative Options if Mediation Fails
Partnership mediation is non-binding in Florida. Indeed, the process exists as a form of alternative dispute resolution (ADR) that allows parties to work out commercial conflicts in a non-adversarial setting. Even with the best preparation, mediation may not always lead to a resolution. Given this reality, it is important to be aware of your alternative options if mediation fails. You may potentially arbitrate or even litigate a partnership dispute if mediation fails to produce results.
Set Up Your Confidential Consultation With a Partnership Mediation Lawyer in South Florida
At Pike & Lustig, LLP, we have extensive experience handling business mediation, including partnership disputes. If you have any specific questions or concerns about partnership mediation, we are here as a resource that you can trust. Call us now or contact us through our website for your confidential initial appointment. Our firm handles business mediation throughout South Florida, including in Miami, Miami Beach, Hialeah, Fort Lauderdale, West Palm Beach, and Jupiter.
