Something to Think About…
Commercial litigation is not always going to court. Sometimes it is mediation and arbitration. In mediation, the parties work with a mediator and agree how to resolve a dispute or issue. Because the parties agree to the resolution, this is often one of the most effective methods to not just settle your differences, but the parties stick to the agreement – because the agreed to do that.
If mediation is not available, arbitration is often used (or required) in many commercial disputes. Arbitration is essentially akin to a private trial. Both sides are given the opportunity to go through discovery and the arbitration hearing, and an arbitrator, or panel of arbitrators, render an award. This award is final and binding the same as a judgment, and can be enforced just like a judgment. The advantage of arbitration, unlike a trial, is it is often quicker and private.
Another commercial litigation tactic is acting preemptively in conjunction with your transactional attorney to stave off potential lawsuits. For this, we offer contract audits and commercial transaction analysis. With this service, we will look over a deal, whether contentious or amicable and provide a breakdown of its strong points and weaknesses. Sometimes it is easy to see that you are getting a good deal, but did you know that a particular indemnification clause, or debt procurement provision can harm the deal, and your business, well after the deal closes? At that point, it becomes a lawsuit (or sometimes many lawsuits), and it is costly to fix.