Alternative Forms of Dispute Resolution

Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this...

When a legal dispute arises, many individuals believe that litigation is the only way out. However, there are a number of ways that legal conflicts can be resolved without resorting to litigation, including negotiation, arbitration and mediation.

Negotiation

• One alternative way to resolve a legal dispute is through negotiations. A negotiation may occur without legal counsel. The parties can try to work out a solution that they are both satisfied with, often giving offers and counter-offers. Negotiations are common in commercial settings in which a conflict can halt a business deal or project. When negotiations are between the parties, they have the greatest ability to save the parties money that would have been expended by hiring solicitors.
• Negotiations can also occur between solicitors. During this process, the solicitors serve as middle persons who funnel offers back and forth. The parties do not have to have direct contact with each other. While this is more expensive than going through negotiations alone, the parties may be more likely to get what they want out of a deal since their solicitors are likely more seasoned negotiators than they are. A successful negotiation will still likely save more money in legal expenses than having to go through a full trial. Additionally, the solicitors can formalize the agreement as an official settlement agreement, minimizing the likelihood of one of them reneging on the deal as they might without solicitors intervening.

Arbitration

• Another form of alternative dispute resolution is arbitration. This process is similar to litigation, but it tends to be not as formal, shorter and less costly. In arbitration, the parties agree to the parameters of the process, including the person who will decide the case, known as the arbitrator. This allows the parties to select a decision maker who has a background in the relevant area of law, such as family law or commercial law. Retired judges and other solicitors are commonly arbitrators. 

Looks like really useful info, eh? Just click the link https://www.hg.org/article.asp?id=7928 to find out more from the horse’s mouth! If you’d like to share perspectives or discuss how it relates to your business, call me on (0408) 885-417 or email me at [email protected]

Thanks,

Mark