Is your company currently embroiled in a commercial dispute, or are you heading in that direction and want to take swift action before a lawsuit unfolds?
Navigating commercial litigation and resolving disputes are never easy. As a business owner or the CEO of a company, a lot is on your plate ‒ but with the right commercial litigation attorney, you can mitigate the time, cost, and hassle of a lawsuit and potentially negotiate and mediate before a dispute goes to court.
If you’re facing a legal dispute, you may be wondering, “What exactly is commercial litigation? Can I negotiate and mediate on my own? When should I hire an attorney to help?”
As a renowned commercial law firm based in Wilkes-Barre, PA, Hoegen & Associates, PC has the knowledge and expertise to help companies of all industries and sizes in negotiations, mediations, and litigation. In this article, we’ll explore everything you need to know about commercial litigation and how to resolve disputes.
If you’d like to speak to a commercial litigation attorney, contact us today. Otherwise, let’s get started.
What is Commercial Litigation?
Commercial litigation occurs when two or more companies are involved in a business-related dispute. Breach of contracts, class action lawsuits, consumer fraud, and disputes between partners and shareholders are all situations that lend themselves to commercial litigation. Disputes over intellectual property or the misuse of patents, trademarks, and copyright can also lead to commercial litigation.
Litigation may have negative connotations tied up in court and legal proceedings ‒ but the truth is that every successful business can use commercial litigation as a strategy to leverage its profitability and financial security.
With that said, you don’t always need a commercial litigation attorney just because you’re on the giving or receiving end of a lawsuit. If you’re looking to grow your business by purchasing another company’s assets or stock, for example, a commercial litigation lawyer could provide counsel and representation throughout the process.
How to Resolve a Commercial Dispute
In the business world, you’re going to encounter disputes, but not all of them will need to go to court.
Luckily, there are other legal processes that can help you avoid the high costs and unpredictability of commercial litigation. The attorneys at Hoegen & Associates, PC are here to help you develop an effective strategy.
To get started, let’s discuss three common types of alternative dispute resolutions (ADR).
Negotiation
During negotiations, both parties agree to cooperate with one another in establishing a resolution. Alongside their lawyers, both parties meet to discuss the dispute, lay out their expectations and establish their needs before coming to an agreement.
Negotiation is often the first step before arbitration and mediation; however, it’s not uncommon for disputing parties to seek the impartial guidance of a mediator if a resolution can not be reached.
Are you currently preparing for negotiations and need legal representation? Get in touch with Hoegen & Associates, PC today. We’d be happy to schedule a consultation with you.
Mediation
Mediation is less formal than arbitration and is highly sought after as an alternative to lawsuits. Conducted by a neutral third party, mediation allows both parties to come to their own agreement. The process is non-binding, which means the parties aren’t forced to accept a resolution. Rather, the mediator will foster discussion and offer suggestions to help both sides reach a successful resolution once they’ve presented their positions.
However, one of the drawbacks of mediation is that the parties may end up going to court should they be unable to come to an agreement. Before a dispute ever needs to go to court, there are two other potential ADRs.
Do you need counsel and representation in the mediation process? Reach out to our attorneys today!
Arbitration
Arbitration is a binding, contract-based procedure similar to a legal proceeding but occurs outside of the court. It usually occurs after mediation and negotiation.
Both parties must enter into a pre-dispute arbitration agreement, typically at the beginning of a business relationship. The agreement waives their right to a jury trial and their ability to appeal the outcome in court in the future.
During an arbitration, each party’s attorney presents their case to an arbitrator. Generally speaking, an arbitrator is a retired judge or attorney who can draw on their legal experience to deliver an impartial decision.
Once the arbitrator has reviewed all the information and evidence and heard from both sides and witnesses, they will make a final decision. Both parties can set the groundwork for settlement; however, neither party can appeal the decision in court if they are unhappy with the outcome.
Have you previously entered into an arbitration agreement and are ready to take action? Are you entering into a new business relationship and wish to establish an arbitration agreement? Our attorneys are ready to help. Contact us today to schedule a consultation.
Understanding Commercial Litigation
A commercial dispute is never the end of the world. Before going to court, there are different legal avenues you can take to mitigate costs and time and help your company achieve the best outcome.
Based in Wilkes-Barre, PA, the commercial litigation attorneys at Hoegen & Associates, PC represent businesses of all sizes and industries across Northeast Pennsylvania. If you’re currently embroiled in a commercial dispute, we encourage you to contact us today to schedule a consultation with a lawyer!