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Four Ways To Work Out Business Disputes > NetSparsh - Viral Content you Love & Share

Four Ways To Work Out Business Disputes

Business owners have four options to resolve disputes with partners, vendors or customers. Each option is based on different assumptions, and entails a different cost. Therefore, it pays to understand them better.

Option #1 ? Direct negotiation

Direct negotiation is certainly the cheapest - but not necessarily the easiest ? way to resolve a conflict. A good place to start, is to get clear about what one wants, why, and how much one cares for the future relationship with the other person. The next step, is finding out how the situation looks from the other person's perspective. This task requires effective questioning, listening, and observing. The final negotiation step, is crafting an agreement that both parties believe to be better than all other alternatives.

To negotiate successfully one needs some planning, communication and negotiation skills. Without them, it is easy to end up with no deal, or a bad deal, or even a personal war.

Option #2 - Mediation

The goal of mediation is not to find who is right or wrong, but how the problem at hand can best be resolved. Mediation is a process in which parties who disagree meet with a neutral third-party, who facilitates their negotiations. The mediator doesn't have any decision-making authority. The parties decide how to resolve their problem, in a way that is mutually acceptable.

Since mediation is confidential, mediation discussions and materials are not admissible in court. In a sense, when people mediate they have everything to gain and nothing to lose. If they are able to reach a mutually acceptable agreement with the mediator's assistance, that's great. Otherwise, they can still use the remaining two options. And in that case, whatever they have said or heard, offered or counter-offered during mediation, doesn't matter.

Option #3 ? Arbitration

The business dispute is submitted to a neutral arbitrator, who examines the evidence, listens to the parties and renders a binding decision. The conflicting parties must accept the arbitrator's decision, no matter whether they like it or not. Arbitration is past-oriented, and requires a certain amount of fact-finding. Therefore, generally it takes more time (and money) than mediation, but less than litigation.

Option #4 ? Litigation

The fourth option is to let the judge decide which party is right or wrong, based on the facts and the law. In actuality, though, the vast majority of civil cases never get that far (some statistics say up to 90%). They settle out of court. A few days ? or even hours ? before the trial, the two conflicting parties, assisted by their respective attorneys, prefer to negotiate their own agreement, rather than running the risk of losing in court.

For business owners ? as well as for anyone else - litigation has two major drawbacks. First, it inevitably has a detrimental effect on the future relationship between the parties. Second, it can be quite expensive in terms of time, money and stress. Nonetheless, when a business dispute cannot be resolved any other way, litigation is a valid option.

About The Author

Giuseppe Leone is a Business and Workplace Mediator. Past President of SPIDR (Society of Professionals in Dispute Resolution) Hawaii Chapter. Mediator for Hawaii District Courts. Email: mediationplus@yahoo.com

In The News:

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Inc.com

Stop Behaving This Way When You Negotiate
Inc.com
The research tracked linguistic markers such as gratitude, deference, positive/negative tone, and using "please" (amongst others) to measure the tone of the negotiation on a buyer/seller exchange. The researchers then drew conclusions around the effect ...


Saudi Gazette

Negotiation team made a mistake
Saudi Gazette
Riyadh — A senior Saudi government official speaking to Reuters news agency laid out details of the death of Saudi journalist Jamal Khashoggi inside the Saudi consulate. The latest account, provided by a Saudi official who requested anonymity ...
Saudi source: Khashoggi died following 'mistakes made by negotiation team'Al-Arabiya
Saudi official provides further, new details on Khashoggi case: ReutersArab News

all 5,958 news articles »

Business Insider

Actress Elizabeth Banks has used a somewhat controversial piece of negotiation advice to shape her career
Business Insider
Banks' approach — setting your walk-away point — has been touted by some negotiation experts. In an article for The Muse, attorney Victoria Pynchon wrote: "If you act as if you're prepared to walk away from a deal unless you achieve your desired goal ...

and more »

Forbes

How To Masterfully Negotiate Your Salary
Forbes
My client, Sarah, came to me with a dilemma: she wanted to be making more money at her job, but had no idea how to ask for it. When I asked her if she had ever negotiated her salary before, her eyes got wide and she slowly shook her head. “I didn't ...

and more »

kurv

Gaza protests to test Egypt cease-fire negotiation efforts
WVVA TV
The negotiations seek to defuse simmering tensions. On Wednesday, a rocket fired from the Gaza Strip destroyed a house in the Israeli city of Beersheba in the worst bout of violence in recent weeks. Israel retaliated with airstrikes and has beefed up ...
Gaza Protests To Test Egypt Eease-Fire Negotiation Effortskurv

all 629 news articles »

The Latest: Bredesen backs drug price negotiation idea
Associated Press (press release) (blog)
NASHVILLE, Tenn. (AP) — The Latest on the U.S. Senate race in Tennessee (all times local):. 2:45 p.m.. Democratic U.S. Senate candidate Phil Bredesen is backing a plan for the federal government to negotiate drug prices with pharmaceutical companies.

and more »

NESN.com

Alex Cora Asked For One Thing During His Red Sox Contract Negotiation
NESN.com
Home was in Alex Cora's heart when he was trying to confirm his most recent career move. The Boston Red Sox manager revealed Thursday night the one demand he made when negotiating his contract with the team prior to his appointment. Hurricanes Irma ...

and more »

GiveMeSport

Eddie Hearn has lost his patience with Deontay Wilder's negotiation demands
GiveMeSport
The prospect of Anthony Joshua and Deontay Wilder finally meeting seemed to have hit the deadest of ends in recent times. It seemed all set for Joshua to put up his WBA, WBC and IBF, world titles as Wilder would defend his WBC strap in what would be a ...

and more »

Fast Company

Never, ever utter these phrases in a salary negotiation
Fast Company
To coach us along in the salary negotiation process, we turned to Josh Doody, author of Fearless Salary Negotiation. “A salary negotiation is a collaboration, and a key ingredient of a successful collaboration is good communication,” says Doody.


A Hollywood Executive On Negotiation, Talent, and Risk
Harvard Business Review
But to get that work made, you have to have shrewd negotiating skills. Ovitz says he now regrets some of the ways he approached business in his earlier years, and advises young entrepreneurs about what he's learned along the way. He's the author of the ...

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