We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Business

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What is the Best Way to Handle a Commercial Dispute?

Jessica Ellis
By
Updated: May 17, 2024
Views: 4,570
Share

A commercial dispute is a legal question or conflict arising out of a business transaction. Commercial disputes often occur between a business and a customer, two conflicting businesses, or business partners. There are dozens of different types of commercial dispute, from breach of contract issues to misconduct accusations. When trying to handle a commercial dispute, it is important to stay calm and try to take efficient, productive actions that will solve the matter quickly and with the least amount of fuss.

One of the most important steps to solving a commercial dispute is to understand the applicable laws. Regional, state, and federal laws may all factor into how a dispute proceeds, and it can be very helpful to read and understand the laws before taking any further steps. While the expert advice of an attorney is often necessary in a complicated commercial dispute, it may be reassuring and helpful to a party involved in a dispute to read the text of the laws and form a personal understanding and position on the issue.

Presuming that the dispute is not spurious, some experts suggest trying to negotiate a settlement or resolution without resorting to legal action. If the other party is open to negotiation, try to resolve the matter to satisfaction before turning to the courts for assistance. Personally negotiating and resolving the issue can save both parties a lot of time and money, but it requires that all involved parties are reasonable, open to working things out, and concerned with acting lawfully. If these conditions are not met, it may be time to move on to other options to resolve a commercial dispute.

Before resorting to litigation, consider pursuing mediation or arbitration as an alternative. Mediation uses a neutral third party to try and work out a dispute between the primary parties. Mediation is generally not legally binding, and may not always result in a solved dispute, but can be a fast and less expensive alternative to court action. Arbitration is a legally binding process that can be faster than a regular trial, and has the advantage of being a closed-doors procedure that protects privacy. The major downside to arbitration is that decisions are almost always final and cannot be appealed. Both mediation and arbitration allow for the possibility of attorney representation, but usually do not mandate an attorney's presence.

Resolving a commercial dispute can be made simpler through organization and good business practices. Keeping documents in an accessible, secure filing system can help streamline the discovery process for a lawsuit. Ensuring that all contracts are reviewed by a reputable attorney can cut down on the chances of a contract being declared unlawful or invalid. Though no measure can foolproof a business or customer from a commercial dispute, good organization can go a long way toward warding off spurious claims.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Jessica Ellis
By Jessica Ellis
With a B.A. in theater from UCLA and a graduate degree in screenwriting from the American Film Institute, Jessica Ellis brings a unique perspective to her work as a writer for WiseGeek. While passionate about drama and film, Jessica enjoys learning and writing about a wide range of topics, creating content that is both informative and engaging for readers.

Editors' Picks

Discussion Comments
Jessica Ellis
Jessica Ellis
With a B.A. in theater from UCLA and a graduate degree in screenwriting from the American Film Institute, Jessica Ellis...
Learn more
Share
https://www.wisegeek.net/what-is-the-best-way-to-handle-a-commercial-dispute.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.