In the world of business, cultivating and maintaining the right relationships can be a huge boon to your business. At the same time, some relationships can cause lasting damage. Admittedly, it can be tricky sometimes to effectively distance yourself from a person or an entity that might not be beneficial to your business practices. Word-of-mouth travels quickly and when your litigation efforts against a peer or an associate enters the stream of public conversation, it will almost certainly have an effect on your business.
One way you can approach the severing of ties without risking litigation is through alternative dispute resolution. There are many benefits associated with ADR, not the least of which is reduced costs, which is advantageous to your bottom line. If you are thinking about ADR but are not yet convinced, the list below highlights a few more of the benefits of ADR.
- Confidentiality: Most times, ADR allows you to remedy your situation outside of the public eye, which helps protect your business reputation
- Flexibility: Working outside of Alberta's courts gives you the power to arrive at a creative yet effective solution
- Compliance: When two parties in conflict can arrive at a solution by working together, there is a better chance of compliance on both sides
- Preserving associations: Finding a solution through ADR promotes continuing your relationship, lessening the damage on both sides
- Staying in control: Unlike the strictness of court proceedings, ADR gives you the power to control the process and the outcome
One important point to know is that you do not have to enter into dispute resolution unprotected. You can still acquire the support and advocacy of a business lawyer. This ensures that your best interests remain protected and that the advice you receive will be clear and objective.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
