The law firm of Goodrich & Reely, PLLC, serves clients throughout Montana.

Four benefits to mediating a partnership dispute

On Behalf of | Jul 19, 2023 | Mediation

A partnership dispute can quickly threaten the viability of your business and your own financial stability. After all, if you and your partners can’t hash out your disagreements, the business might end up dissolving. Even if you’re able to keep your business running, lingering and unresolved conflict can be burdensome on operations and the direction of the business, leading to a fair amount of stress in your personal life.

So, how can you work through those partnership disputes? One option is to turn to mediation.

How can mediation help you resolve your partnership dispute?

Mediation can be a great way to work through your business disagreements. Here are just a few advantages to the process:

  • Cooperation: Instead of fighting against each other in court, mediation allows you and your partners to work together to find common ground and fair and favorable resolution. This reduces conflict, stress, and often, expenses.
  • Unbiased perspective: The mediator handling your case has an interest in finding resolution, but they do so in an unbiased way, which can help facilitate difficult conversations.
  • Lack of publicity: The circumstances surrounding some partnership disputes are highly sensitive. If your dispute heads to litigation, everything is made public. Mediation allows you to keep everything private, which could protect your image as well as that of your business.
  • Preservation of business relationships: Contentious litigation is almost sure to ruin your relationships with your partners. Mediation, on the other hand, gives you the opportunity to find resolution while protecting your relationships with your partners as much as possible. This gives you the opportunity to find a path forward for your business arrangement.

Is mediating a business dispute right for you?

There are many other benefits to the mediation process, which is why, if you’re interested in alternative forms of dispute resolution, you might want to reach out for more information and guidance on the process. Hopefully, you can then find a path forward that is best for you and your business.