What legal steps can I take to resolve a dispute with a former business partner?
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If you are in dispute with a former business partner, there are several legal steps that may be taken to resolve the situation. Depending upon the circumstances of your case and the applicable laws in your jurisdiction, these steps may include:
1) Negotiation and Mediation – In many cases it is possible to negotiate a settlement or resolution with your former business partner without involving any third party or court involvement. If successful, this can often result in an agreement that is mutually beneficial for both parties and allows each side to come away from the dispute feeling like they have achieved something positive. It is also possible to use mediation services provided by a neutral third-party mediator who can facilitate communication between both sides and help them reach agreement on their own terms.
2) Arbitration – If negotiation or mediation does not work out then arbitration could be another option for resolving disputes between two parties. This involves submitting the case before an arbitrator (usually a lawyer or judge), who will listen to evidence presented by both sides and make decisions based on what he/she finds most equitable under relevant law. The advantage of arbitration over litigation is that it offers more personal control over how things are handled, as well as being faster and less expensive than going through civil court proceedings.
3) Litigation – If all other attempts at resolution fail then filing a lawsuit against your former business partner may be necessary as a last resort measure. A lawsuit would involve initiating formal civil proceedings where one side brings charges against another; if found guilty, damages will usually be awarded accordingly depending on which party was found liable for whatever harm occurred during the course of their dealings with one another. Any decision made at trial would likely need to adhere strictly to current laws governing relevant contractual obligations between two parties involved in such disputes so consulting an experienced attorney prior to taking action should always remain paramount when choosing this route towards resolution .
Additionally, it should also be noted that certain statutes of limitation might apply depending upon where you live so please take care ensure they do not prevent you from seeking legal recourse early enough once any issues arise with your former business partner - even if only minimal time has passed since contract formation but still within those limitations set forth by law - otherwise it may hinder any ability later down line when deciding how best proceed moving forward if needed..
