Dispute Resolution

Communication between business partners can occasionally become challenging, or even volatile. When problems arise, it is often in the best interest of the business’s members to seek resolution outside of litigation. Doing so can protect and preserve profits, relationships, and even the reputation of the business. Agreements reached through alternative dispute resolution methods, such as ongoing negotiations, arbitration, or mediation are often the best and most economical approaches.

Direct Negotiation

Direct negotiation through legal counsel is often the quickest and most cost-effective way to reach a settlement, but it may be difficult if the parties have been previously unable to discuss the conflict in an effective manner. Frequently, however, the prospect of costly litigation or a trial can pressure parties to come to the negotiating table with clear minds, and ultimately reach an agreement.

Arbitration

Many contracts contain arbitration clauses, requiring parties to bring disputes to an arbitrator rather than to court. Other times, arbitration is mutually agreed upon. In either scenario, arbitrators are a third-party resource who hear both sides of a dispute and make strong recommendations or binding final decisions with regard to the outcome.

As mentioned above, some arbitrated decisions are binding, while others are not. It is essential to have a trusted attorney by your side during this process to ensure that your rights and best interests are protected, and that you understand the results of an arbitration.

Mediation

Somewhere between direct negotiation and arbitration lies mediation. Parties retain control over the final decision and agreement, similar to direct negotiations, but there is also a third party that will attempt to facilitate a settlement. With this option, lawyers will meet with the mediator directly and have an open discussion about the merits and downsides of your case, and diligently work to make sure your rights and best interests are protected. Mediations have opening statements, a presentation of facts, and a final closing argument similar to a trial, but take place in a more informal setting outside of the courtroom. Mediations may be binding or non-binding at the discretion of the parties.

Wise negotiators understand that the most important thing is to get back to business as quickly as possible. The business lawyers at Parikh Law Group, LLC know how to identify points of agreement and work with mediators and arbitrators to find a solution that is best for all parties, including your business.

Complex Litigation

Certain situations may lead to a lawsuit, regardless of intentions. Navi-gating a business dispute while also keeping the business running can be confusing, costly, and overwhelming, often involving risk-management, increased compliance scrutiny, and troubling shareholder meetings.

If you’re involved in a business dispute in Chicago, you’ll need an attorney who knows how to divert the pressure away from you, while simultaneously working tirelessly to protect your business and personal rights and interests. At Parikh Law Group, LLC, we will thoroughly analyze your situation to determine your priorities and objectives, and to become familiar with your business, so that we can position you for the best possible outcome.

Types of Business Disputes

Companies of all shapes and sizes can encounter disputes, both internally among employees and shareholders, and externally, with financial institutions, other businesses, and clients. Our firm has experience in handling a wide variety of conflicts, including:

• Misuse of business assets and accounts
• Partner and shareholder disagreements
• Troubled investments
• Merger complications
• Client interference
• Vendor disputes
• Mishandled real-estate transactions
• Breach of contracts and warranties
• Employee disputes
• Trademark and copyright infringement
• Insurance disputes