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How to resolve business disputes out of court

On Behalf of | Mar 31, 2023 | Business Law

Running a business is an admirable way to make a living. But as the firm grows, complications could arise and lead to disputes. These matters could require litigation, depending on the circumstances.

However, you could resolve some cases out of court. Fortunately, New Jersey offers complementary dispute resolution or out-of-court options for appropriate civil matters, including specific business disputes.

These options include the following methods:

  • Mediation: An impartial third party facilitates discussion to negotiate your case until you reach a satisfactory agreement.
  • Arbitration: An arbitrator examines the case details and provides an enforceable decision. A party can usually file an appeal if they disagree with the decision. However, a voluntary binding arbitration’s decision is final and unappealable.
  • Bar paneling: It is a confidential process where two lawyers hold a hearing for the case and produce a recommended resolution.
  • Jury trials: This process examines the case and holds trials, reaching a conclusion based on how a jury would decide. It has two types: summary and expedited.
  • Settlement programs: They apply to contested special civil part cases. The process can include mediation and other types of pretrial settlement.

Additionally, you could pay for similar dispute resolution services from firms offering mediation, arbitration, negotiation and other private procedures.

Are they better than going to court?

These alternatives could be better options, depending on your circumstances, the details of your case and the willingness of both parties to settle.

You could go for these complementary dispute resolutions to avoid litigation and its accompanying fees if appropriate. However, certain cases have more complicated factors which might require a trial’s strict process and formalities.

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