What Are the Best Alternatives to Business Litigation in Florida?
Disputes are an inevitable part of doing business. When you are facing a business dispute, it is essential to hire an experienced business litigation attorney in Florida to represent the best interests of your company.
Contrary to popular belief, filing a lawsuit may not be the most effective and productive way to resolve disagreements between business partners or disputes with other companies.
Sometimes, it may make more sense to use an alternative dispute resolution (ADR) method to resolve your business dispute. Consult with our Sarasota business litigation attorney at Suncoast Civil Law to review your unique situation and identify all available alternatives to filing a lawsuit.
What are the alternative dispute resolution (ADR) methods?
There are several ADR methods that serve as an alternative to business litigation in Florida. The two most common and effective alternatives to going to court are mediation and arbitration.
These ADR methods can be used to resolve your business disputes without having to take your case to court. When choosing the best alternative to business litigation in your particular case, it is important to understand how each process works.
How does mediation work?
Mediation is an alternative method of resolving business disputes in an informal setting. Generally, businesses that opt for mediation have more control over the outcome of their dispute.
The mediation process works by having a neutral, third-party mediator manage the discussion between the parties and facilitate negotiations to help them reach a mutually acceptable solution. The mediator does not have the authority to decide any issues for the parties.
Three major benefits of mediation include:
- More privacy
- Greater flexibility
- More control over the outcome
How does arbitration work?
Unlike litigation, arbitration is a private process where the parties agree that one or more disinterested individuals (arbitrators) can make a legally binding decision about their business dispute. Basically, arbitration is a simplified, less formal, and less expensive alternative to litigation.
Many business agreements in Florida include the arbitration clause that requires the parties to the contract to resolve all disputes through arbitration instead of litigation.
During the arbitration process, the disputing parties will have an opportunity to present their case and evidence, which is why it is critical to be represented by a knowledgeable lawyer to be able to present your arguments in the most convincing manner possible.
Three major benefits of arbitration include:
- Less adversarial than litigation
- More cost-efficient
- Allows to resolve a dispute faster than through litigation
What’s the difference between mediation and arbitration?
While the main purpose of mediation is to facilitate negotiations between the disputing parties, arbitration is a hearing process in which an arbitrator gets to decide the issues.
Mediation is an informal process, while arbitration is formal. The goal of the mediation process is to resolve disagreements between the parties, while the goal of arbitration is to achieve a resolution of the dispute.
Consult with a knowledgeable attorney to help you choose the best alternative to business litigation in your unique case. Contact our business litigation lawyers at Suncoast Civil Law to review your situation. Call 941-366-1800 to schedule a consultation.