Miami Partnership Disputes Lawyer

There are many ways to resolve partnership disputes before they cause further harm to a company. These are as follows:

• Negotiation: Not all partnership disputes have to end up in the courtroom. The attorneys representing each partner can enter into negotiations to reach an agreement that is favorable to all parties.
• Mediation: Mediation is sometimes required when the partners involved cannot reach an agreement on their own. During mediation, the partners will meet with a third party mediator. Mediators do not make final decisions, nor do they provide legal advice. Instead, they only try to foster communication and compromise between the partners so they can reach an agreement.
• Arbitration: Some partnership agreements stipulate that disputes must be resolved through arbitration. During arbitration, the partners will meet with an arbitrator and argue their side of the case. After the arbitrator has heard from all sides, they will make a final decision. This decision is legally binding.
• Litigation: Litigation is the costliest way to resolve partnership disputes. It will also take the longest, and businesses may be harmed in the meanwhile. Litigation requires all parties to go to court and argue their case to a judge. The judge will then make a decision after hearing all sides and that decision is also legally binding.

In the majority of cases, it is preferred that disputing parties avoid litigation. However, there are times when it is the only way to uphold one’s rights.