Business disputes are a common aspect of running a company. You can do everything possible to avoid these issues, but they can still crop upon occasion. When you run into a dispute, it’s important to resolve it as soon as possible in order to avoid lengthy problems. Disputes can be with other companies, employees and customers. Let’s look at some common types of business disputes.
One frequent bone of contention involves contracts. This includes contracts with employees, customers and vendors. Contracts are written and signed in an effort to protect the parties involved. Disputes can still occur even when everything is documented in writing.
Professional negligence can form the basis of some business disputes. Claims of professional negligence arise when the professional advice sought by a party is false or unsubstantiated. You will need to determine if the actions of the professional breached the duty of care owed to you as their client.
If your company is run by shareholders, there can be disputes among, especially over the future of the organization. Shareholder disputes typically occur more often at small-to-medium-sized companies instead of larger ones. The most common type of shareholder dispute is over shareholder claims of being denied the ability to provide input for managerial decisions.
As the manager or owner of a company, you need to know how to resolve business disputes in a timely manner in order to minimize the damage that can result from extended litigation. Besides litigating these matters, you may be able to reach accord through mediation or arbitration services to protect your O’Fallon business.