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Knowing the options when facing partnership disputes

| Jan 26, 2020 | Partnership, Shareholder And Owner Disputes |

The presence of conflict in a business relationship could create a rift between the parties involved and there may be a variety of potential consequences to such a situation. Individuals in Florida who engage in disputes with a business associate may have several options to consider as they prepare to seek an acceptable resolution. Understanding the options to help resolve partnership disputes and the potential benefits of each in turn could prove vital to forming a strategy to the next stages of the process.

One option for resolving partnership disputes involves a process known as mediation. With this process, the parties involved will meet will an impartial mediator to discuss the dispute and attempt to work toward a resolution through negotiation. Another option is arbitration, in which a neutral third party will act as an arbitrator. The arbitrator will hear arguments from each party involved and make the final decision about how to resolve the matter.

The third option for resolving such disputes includes the process known as litigation. With litigation, those involved will bring the matter before a judge or jury, or both. As each of these options may come with their own set of potential advantages, seeking guidance in better understanding the best course of action to take could prove imperative.

The process of seeking a resolution to partnership disputes can be somewhat complex in nature. Those who encounter such disputes could find it helpful to speak with an attorney early on for much needed insight on each of their available options. An attorney can work with a client in Florida in evaluating the situation thoroughly and assist in developing a strategy to protect his or her interests through the proper channels.