Business disputes happen. While steps can certainly be taken to reduce the chances for such disputes arising, there really is no way to avoid them altogether. Part of business planning is putting those mechanisms in place to reduce the chances of business disputes from arising. Another part is to plan for how to resolve such disputes should they arise anyway. Here, we’ll go through some of the more common business disputes to help you in both of these business planning endeavors.
Common Business Disputes
One of the most common kind of business disputes is a contract disagreement. If you own your own business, it is likely that you have a number of contracts in place. You may have contracts with suppliers or contractors. You may have purchaser contracts or contracts with other business partners. The fact of the matter is that you likely have a number of contracts in place, all of which may give rise to potential disputes at one point or another. Parties to a contract can be upset for a number of reasons. Perhaps one party felt that it did not receive the products it was entitled to under the contract or was not properly paid for services rendered. The specifics of the contract may come into dispute such as how long the contractual relationship was supposed to last. The devil is in the details and contracts are full of them.
Employment claims are also common sources of business disputes. These can be particularly sensitive and complicated because there are foundational federal laws in place that govern the treatment of employees. Businesses have to meet a varied and lengthy list of requirements to help ensure they are taking the care to avoid things such as discrimination, harassment, and other improper workplace behavior from arising or persisting.
Even going into business ownership knowing that it is likely that disputes will arise will not minimize the frustration and anxiety you may experience when a dispute does arise. It is important to focus on what you can control. There are steps you can take to minimize the chances from such disputes arising in the first place. For instance, standardize your contracts and agreements when they can be. This can help streamline things and help ensure that all proper requirements and necessary clauses are in place to help ensure enforceability. You can also work to streamline other business procedures such as with hiring or firing employees, which are common sources of employment claim disputes. Standardizing and streamlining such procedures can help minimize discrimination claims or claims of unfairness in these processes.
Also, put everything in writing. Especially if you run a smaller operation or are just starting out in your business journey, you may be tempted to rely on simple, handshake agreements. While such agreements may be simpler at the start, they can prove to be a nightmare should any disputes arise down the road. Always put it in writing.
Business Law Attorneys
For minimizing the chance of business disputes or addressing business disputes, you can count on the team at Jones, Gregg, Creehan & Gerace. Contact us today.