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3 methods of resolving business disputes

When you own an Oregon business, the chances of a dispute arising at some point are high. However, not every business dispute has to turn into an ugly, contentious and costly court battle. Before you take matters to court, you may want to try alternative methods of dispute resolution. If none of those help you arrive at a solution, you may need to take consider your next steps.

Per Harvard University, when facing a business dispute, you may find that you are able to resolve the disagreement in one of the following three ways.

1. Through mediation

Mediation has you and the other party or parties involved in your business dispute come together with an unbiased third party who serves as a mediator. It gives you and your opposition a chance to voice your issues and explain your sides. Then, the mediator works to help you all come to some sort of fair agreement.

2. Through arbitration

Arbitration also involves you and your opposition working with a neutral third party, but in this case, the neutral third party is a judge. Rather than encourage you to come to a consensus, the arbitrator listens to all sides and then makes a binding decision about your case. Arbitration is typically confidential.

3. Through litigation

Sometimes, you might be unable to resolve a business dispute without taking it to court. Under these circumstances, you may have to take the case before a judge or jury, and the details of your case may become part of the public record.

Regardless of what type of dispute resolution method you choose, know that it may help your case to keep meticulous notes, remain calm and arrive prepared to negotiate.

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