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In the past decade, the number of small, entrepreneurial businesses participating in the global economy has tripled.

The Word CONTRACT is made up of CON + TRACT

The literal meaning of CON as a verb is persuade (someone) to do or believe something by lying to them and CON as a noun an instance of deceiving or tricking someone.

The word Tract in late Middle English (denoting a written work treating a particular topic), apparently an abbreviation of Latin tractatus (see tractate). The current sense dates from the early 19th century.

So when two parties are in agreement they sign a contract which may lead to disagreement in near future.

SOLUTION: Don't Litigate Mitigate to FIND amicable solution

All businesses are likely at some time to be involved in commercial disputes or business disputes. A commercial dispute essentially occurs when relations between businesses break down.

For example, a dispute may arise when one party fails to pay scheduled payments or a dispute may arise when a supplier fail to manufacture goods and deliver them on time.  

Co-founder dispute when one founder is having GALA time doing nothing and when the other founder objects and the WORLD finds it out a dispute arises for breaching TRUST

For any business in any industry located anywhere in the world, commercial disputes can present an array of serious problems if not addressed swiftly, efficiently, and cost-effectively.

Commercial disputes can jeopardize profitability, reputation, and sometimes the very existence of a business and reputation of a person.

The immediate response in a commercial dispute would be to search for a lawyer and proceed with litigation. But in a scenario where the increased number of court cases have burdened the government and judiciary in terms of the time, effort and money spent on them, mediation is the key in providing a system where its a win-win situation for both the parties.

Mediation is the key in providing a system where its a win-win situation for both the parties

Mediation is defined as a process where a fair-minded neutral negotiator known as the mediator helps and guides the parties to discuss the problem at hand and reach a cooperative fair or decent settlement of their dispute.

In simple words, it allows the parties to discuss the problem with the help of a mediator without depending upon the court hearing.

Mediation has eminent capability to resolve commercial disputes at an early stage, before the parties become too encroached and substantial damage is done that the business relationships become unrepairable.

Business relationships become unrepairable

Even if in certain cases where settlements fails, mediation still never fails because it allows the parties to understand and define the facts and issues of the dispute and further allow them to be prepared for following court litigation and arbitration.

Business relationships become unrepairable

The first casualty of any conflict is lack of communication. As the ultimate goal of litigation is to determine right and wrong, it places parties as opponents, disrupts the possibility of any direct communication and fosters a spirit of competition and rivalry, in order to deliver a judgment on right/wrong, winner/loser. On the other hand, the goal of mediation is resolution, it fosters a spirit of collaboration and rebuilds communication. Better communication and enhanced clarity enables the mediator to work with the parties to create several options for resolution.

Conflict is lack of communication

Mediation aims at providing mutually acceptable solutions that satisfy the needs and interest of both the parties saving time and money wasted in long drawn litigation process. Through, the Mediation process is informal it has a definite structure which addresses both the legal issues and the underlying cause of the dispute. Mediator establishes communication between the parties by winning their trust in the process and ultimately helps them generate options for amicable settlement.

Takeaway: generate options for amicable settlement

Good News for 2018

Blockbuster 2018 for Modi India: Top Mergers & Acquisition Deals

In 2018, tech businesses will be redefined to uplift business sentiments, and open up new business opportunities in the Startup sector. Modi would like a more solid investment and jobs recovery scorecard in 2018.

What does this mean for the business sector?

Consumer in any sector is HUNGRY for cost, convenience and quality. Intellectual Capital" is the KEY

Venture Debt Funding for Protected Intellectual Property Rights will be seen in 2018 across the globe especially in India. There are three responses to a piece of design—yes, no, and WOW! Wow factor is the one to aim for in any business. Wow stands for:

W for Wonderful

O for Oblivious

W for Wisdom

Focus points for 2018 for any business

Intellectual Property Rights for Innovative Business Model. Identify intellectual property (IP) in your innovative business model.

Intellectual property protected provides a strong base for investors to place their BET at risk. Intellectual property is an integral part of value creation in a technology-based innovative business startup and is a critical point in obtaining venture capital (VC) for SMEs.

Conquer the #UNIVERSE in this technology driven era with an intent to make a difference in the society #makeithappen #askpatentexpert https://lnkd.in/fwAPaGt #startups #inspire #leadership #quotes #life #socialmedia #tech #quote #business #innovation #patents

The tenacity with which you perceive YOUR goals and envision numerous possibilities is the KEY to the lock to the parallel universal truth existing in #lawoflife

YOU are your own author. Right a MEMORABLE one

Understand: #lawoflife #askpatentexpert #Bebetteryou #Believelife