Business Dispute Resolution Options
Channel: Roy Oppenheim
Date: 2024-03-09

Roy Oppenheim advises individuals facing business disputes on the type of lawyer they should hire. Oppenheim recommends engaging a business lawyer experienced in business litigation. He outlines the options for resolving disputes, starting with attempting direct negotiation, followed by mediation with a neutral third party making non-binding recommendations. If unsuccessful, parties may opt for binding arbitration, a more informal process with a final decision by an arbiter. The last resort is full-blown litigation, involving a court battle that could take years and result in significant costs without guaranteed success. Oppenheim emphasizes the importance of choosing the right attorney for handling such matters. 

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Full Transcript:

Hi. Roy Oppenheim here. Frequently I'm asked, you know, what kind of lawyer should someone hire when they're getting into a business dispute, whether it's with a vendor or with a partner in the business arena. And typically, you want to really hire a business lawyer who is involved in business litigation. And so, we've been doing that for years. And so, one of the questions that then is asked, "Well, what are my options, you know, if I get into a dispute?" And the first response is, "Well, you wanna try and talk it out and see if you can negotiate it individually." If you can't do that, then you may wanna go to mediation, which is where you have a third party neutral, who is going to make a recommendation. It's not binding to the two of you on how to resolve it and how it could end up in court weeks, months, years from when you have that mediation.

The other thing is you both could agree on arbitration, which would be binding, which would be a more informal process, but the determination by the arbiter would be final. And then the fourth is full-blown litigation, where you go to court and you duke it out. And it could take, you know, a few years to get it resolved, and you both end up spending, you know, a lot of money, and there's no guarantee that either of you are gonna win or that you're gonna get your attorney fees back. So those are your options in terms of the business dispute and the kind of attorney that you would need to hire to resolve such a matter. Roy Oppenheim "From the Trenches." Thanks.