Resolving Commercial Disputes
Resolving Commercial Disputes
Running a business comes with multiple challenges, from maintaining budgets to recruiting the right staff. And unfortunately, commercial disputes are also an inevitable aspect of the business world.
Commercial disputes can arise for various reasons and have the potential to disrupt business operations, strain relationships and result in financial losses. That’s why taking the right steps to resolve commercial disputes is imperative. This blog will provide common examples of commercial disputes and outline the key steps involved in resolving them.
Defining commercial disputes
Commercial disputes encompass conflicts and disagreements that arise within business relationships and transactions. These disputes can occur between businesses, with the government, or between different branches of the same organisation. They can emerge at any stage of a business relationship, from negotiating and forming contracts to performing or terminating those agreements.
Some common examples of commercial disputes are:
- Breach of contract — One party fails to fulfil its obligations as outlined in a contract, such as failing to deliver goods or services or make payment as agreed upon.
- Partnership disputes — When a conflict arises between partners regarding managing a business, profit sharing or decision-making processes.
- Intellectual property disputes — Disagreements over the ownership, use or infringement of intellectual property rights, such as trademarks, copyrights or patents.
- Employment disputes — Conflicts between employers and employees, such as wrongful termination, discrimination or breach of employment contracts.
- Shareholder disputes — Disagreements among shareholders regarding company ownership, voting rights, dividend distribution or corporate governance.
Resolving commercial disputes — upholding your best interests and championing success
No business owner wants to find themselves in the middle of a commercial dispute, but in case that happens, it’s important to understand the next steps. During these circumstances, hiring an experienced and highly skilled commercial lawyer is critical — they can guide you through the process and offer expert advice and counsel to safeguard you and your business.
The details of every commercial dispute vary, but here are the four most common steps you may encounter when resolving commercial disputes.
- Initial consultation
The first step in resolving a commercial dispute is to consult with qualified commercial law lawyers. They will review the details of the dispute, analyse relevant contracts or agreements and objectively assess the strengths and weaknesses of the case.
- Negotiation and mediation
In many cases, negotiation and mediation can help parties reach a mutually acceptable and equitable resolution without resorting to litigation, which can be a costly and lengthy process. Skilled mediators can facilitate open communication, identify common interests and guide the parties towards a compromise that satisfies both parties.
- Alternative dispute resolution (ADR)
If negotiation and mediation do not lead to a resolution, ADR methods, such as arbitration, can be pursued. ADR methods provide a more structured approach to resolving disputes outside the courtroom, allowing both sides to present their case to an impartial third party, who then renders a binding or non-binding decision.
If all other avenues fail, litigation becomes necessary. This involves initiating a lawsuit and presenting the case in court. Your lawyers will gather evidence, prepare legal arguments and represent your best interests throughout the trial. The court will then judge based on the evidence and arguments presented.
Need assistance in resolving an ongoing dispute? Speak to the professional team at ADVIILAW
From disagreements with partners to disputing commercial lease terms, commercial disputes can be highly costly and time-consuming for any business owner. However, with the right approach and the assistance of a knowledgeable commercial law firm, these disputes can be resolved efficiently, minimising the impact on businesses and relationships.
ADVIILAW is a highly specialised boutique law firm, well-versed in commercial, property and dispute resolution law. Our commercial law team comprises talented and skilled individuals committed to driving cost-effective, client-focused results. Whether you need premium legal advice, effective negotiation or confident representation, ADVIILAW is here to help.
We are passionate about what we do and understand how important your business is to you, which is why we make an effort to maintain face-to-face consultations and total transparency when managing your case. If you have a matter you would like to discuss with our team, please do not hesitate to contact us today.