A Forward-Thinking Firm

How do you lower your dispute rates?

On Behalf of | May 24, 2022 | Business Law |

When running a business, disputes are somewhat inevitable. With the number of people you work with, you are bound to run into some sort of disagreement or argument with someone at some point.

However, you can take steps to drastically reduce the number of times this happens. But how do you lower these rates of dispute?

Focus on communication

Forbes looks into the prevention of shareholder disputes. In essence, shareholder disputes happen for several reasons. Divergent interests serve as one common reason. Miscommunication and misunderstandings also contribute to many disputes.

One of the best things to do to limit disputes is to ensure all communication happens in a clear and concise way. Do not leave room for interpretation in contracts. Always say what you mean and say it in a straightforward way. Do not beat around the bush and do not dodge answering questions, especially when asked something directly.

Do not let problems fester

Likewise, if anyone has any problems, they should know to bring it up immediately. Allowing a problem to worsen and fester is one reason why disputes often explode so violently and seemingly out of nowhere. In reality, most parties involved likely had a bone to pick long before the issue actually came to the surface. Sitting and stewing make it harder to react rationally.

Use all the tools at your disposal, too. For example, if an issue seems to escalate and feels like it may get out of hand, bring in a mediator. Having a neutral third party to help everyone work through their issues can do a lot of good.

In these ways, it is possible to cut down on many sources of disputes as someone running a business.