If you are a business owner in the US, then you probably understand what a double-edged sword such a venture can be–and one that may sometimes lead you into business disputes. The initial idea of controlling your own fate and your own career, making your own schedule, and reaping the financial rewards of your hard work and success can all be enticing; however, there are also many responsibilities to handle that can be extremely stressful—especially in the first years. The greatest anxiety may be over money and making sure you have enough capital to keep going, but equal to that is the challenge of keeping the customers coming through the door in what may be a very competitive marketplace.
Because you may be dealing with so many different entities, there is the chance for a business dispute or lawsuit to arise at some point. While you could be forced to face a liability issue due to an incident like a customer slipping and falling or becoming harmed due to a product you prepare or sell, there could also be a problem with a business peer. This could also be a business partner. And although you may be tempted to head to court or throw in the towel regarding what could be a relationship of many years, consult with your business attorney about the best course of action. You may also be forced to deal with a wide range of employee issues over the years. By educating yourself and your human resources department as much as possible, you should be able to ward off problems before they occur, from payroll or overtime issues to sexual harassment or discrimination in the workplace.
Many business disputes arise with vendors too; for example, if you own a restaurant, you may have very close dealings and even personal working relationships with food vendors. These are people you probably talk to several times a week and when something goes wrong or there is an accounting discrepancy, tensions can run high—especially when everyone is working in a fast-paced industry known for causing stress. Tempers can flare, and conflicts can escalate beyond what you may ever have imagined. It is important however, to take a step back and consider the future of your business before ending a relationship that you may struggle without later.
Your attorney may suggest mediation, as it offers a more casual atmosphere for resolving legal issues. This form of alternative dispute resolution is more affordable and usually faster too. The Bolender Law Firm can assist you in all business litigation matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!