Getting into a dispute with your business partners may sometimes feel like the end of the world, but fortunately, that is not the case.
You do not even have to immediately jump to the possibility of litigation. Instead, consider some of the alternative methods of dispute resolution such as mediation.
Willingness and ability to mediate
Harvard Law School discusses how mediation works in lawsuits. Mediation allows parties to avoid the expense, stress and vulnerability of taking their case to court, instead offering an option that allows parties to work through their issues on their own.
So the first thing you need is a willingness and ability to do so. Unfortunately, some disputes are so intense and involve such high stakes that parties simply cannot agree to mediate. Everyone must be on the same page about mediation or it is not a viable option.
The role of a mediator
If you all decide you have the ability and desire to work through the dispute on your own, you then need a mediator. This person will help guide discussions, ensuring that no one talks too much or does not have their voice heard. They also help people calm down if the discussion gets too heated.
On top of that, they provide a unique perspective as a third party with no real stake in the dispute. They may offer valuable insight or advice that no one else would have thought of.
However, they do not have the legal power of a judge or arbitrator. They cannot make the final decision for you, which is why it is so important that you and your partners can work together to make that final choice.