As a business owner in Minnesota, one of your top priorities is ensuring that your business runs smoothly and successfully. Misunderstandings, disagreements, or legal battles are disruptions you don’t want to lose time over. When a fight is looming, mediation may offer a way to get it settled before it blows up into a court battle that absorbs your time, energy, and money. Mediation allows the disputing parties to collaborate and negotiate a workable solution with the assistance of a mediator trained to facilitate discussions between people in conflict. Many businesses find the mediation process effective and empowering, as the parties are actively encouraged to shape the course of their negotiations. Let’s look at three instances where mediation may offer a cost-effective and streamlined solution to a business dispute.
1. Contract Issues Affecting Minneapolis Businesses
Poorly worded or overly vague contracts can cause significant problems for businesses. Even when a contract is carefully negotiated, key terms might mean different things to different people. One party may interpret a specific clause of the contract in one way, while the other party may disagree. Many contract disputes can be settled relatively quickly and effectively through the mediation process. After all, you got into the contract because you wanted to work with the other party — and mediation offers a chance to work through the unexpected disagreement so you can keep working together. The mediator will encourage the parties to discuss their differing interpretations of the contract, consider their underlying interests, and gradually work toward a workable solution that serves those interests. While the negotiation itself may take a bit of time, many businesses facing contract disputes find success through mediation. Additionally, businesses often learn from the dispute, using them as an opportunity to clear up the language in their future contracts.
2. Disputes Among Business Partners
If you run a business with others, there are situations in which you may not see eye to eye. Perhaps you disagree with your business partner about an operational issue, or you feel that you are not appropriately compensated for all the work you do for the business. In such cases, you may find that coming together in a neutral environment to address these issues allows you all to move toward a lasting solution. As long as you approach the mediation process with a willingness to communicate honestly and openly, an equitable resolution may be achieved in a way that saves you both time and money and ultimately may help your business thrive.
3. Divorces Involving Small Businesses in Minnesota
Owning and running a small business with your spouse can work well for many couples. However, if you and your spouse are going through a divorce, you’ll need to determine how the small business will be handled—will one of you assume full ownership of the business? Will you both sell the business? Will you continue to operate the business together, even after the divorce is finalized? Mediation offers an inviting forum in which you and your spouse can negotiate the terms of your divorce, including the fate of your family business.
To learn more about how mediation can help your Minneapolis or St. Paul business resolve a dispute, call Rubric Legal LLC today at (612) 465-0074.