Avoiding business disputes

Avoiding business disputes

| Apr 7, 2021 | Business Law, Contracts, Dispute Resolution

“A clever person solves a problem. A wise person avoids it.” – Albert Einstein

Business disputes can prove costly and disruptive, but are often avoidable with sound legal and business planning. Some of the ways Minnesota business owners are avoiding such disputes include:

  • Investing in good contracts: Poorly drafted contracts with missing or ambiguous clauses are fertile breeding grounds for business disputes. By working with an experienced attorney who is fluent in the language of business contracts, you can rest assured that the language of your written agreements means what you intend it to mean.
  • Reviewing insurance contracts: Do your insurance policies address your present day risks or the risks you faced when you first established them? Risks and exposure points change over the life of a business. Having clear and updated policies in place can shield you from insurance disputes or place you in a stronger position if they do arise.
  • Hiring the right people: The people you work with and who work for you play an important role in shielding you from lawsuits and other potential liabilities. By fine tuning your vetting processes, you can potentially weed out candidates who are prone to risky or contentious behavior.
  • Speaking up: A potential dispute that festers beneath the surface can prove more volatile and disruptive with every passing day. Sometimes clearing the air by speaking up is the best way to get on track to a resolution.

It’s not always possible to avoid disputes

All of the planning in the world cannot completely shield you from the risk of a business dispute. When such disputes arise, it is important to mount a proactive legal strategy that puts you in a strong position. Whether your dispute is ultimately resolved through negotiation, mediation, arbitration or traditional litigation, you are well served by working with a law firm that can handle all of these dispute resolution methods.