5 Common Types of Business Disputes That Can Be Easily Avoided
Running a business is just like hammering nails. If you are an amateur it takes more than just one swing to insert the nail perfectly into the wall. You need to learn how to handle the hammer, how to hold the nail and how to land a perfect strike. Also, sometimes you accidentally might hurt your own finger due to your poor skills.
In a business, you need to keep a perfect balance of relations, with the partners, shareholder, suppliers, and customers etc. Your inability to hold your relationships will make you hurt your own position just like the hammer and nails. There are many situations where such dispute might incur in a business. Some people even say these types of disputes are inevitable. Well not to oppose, but here are 5 common types of business disputes that can easily be avoided-
- Inter-Business Disputes-
The first time when a business faces a dispute is when it colloid with another business. The dispute could be for anything, an intangible asset like patents, trademarks or when a company is poaching another company’s employees. Sometimes a legal counsel is hired to settle the matter.
- Partnership Dispute-
It is an internal issue and the most common business dispute too. It happens when parts of partnership deed are shady and rohttp://legodesk.com/blog/business-disputes/les of different partners are not defined. However, the issue becomes a problem when the matters take a financial turn. To avoid this situation, you should have a clear-cut conversation about the business goals and matters in hand. Communication is the key to a strong business bond. Millions of businesses have undergone a partnership dissolution due to lack of communication.
- Contractual Disputes-
Under this, the main pressing matter is the breach of contracts. This may happen due to verbal contracts, shady communication, and lack of execution. Breaching a contract means a long, expensive battle of ages, so to avoid this, a business contract must be the prime deal. You should always use written contract instead of an oral deal, keep all the relevant information and a dispute resolution clause.
- Employment Disputes-
The disputes which all lead to dissatisfaction or distrust amongst the employees fall under this head. Issues like discrimination, salary issues, unfair dismissal, maternity leave disputes etc. are some common topic for business disputes. An open conversation or a chat with HR might help resolve these issues, modules about creating a safe working environment without any discrimination etc. thing might help ease the situation.
- Shareholders Disputes-
These disputes shoot due to a reduction of denial of paying dividends or unregisters use of the Intellectual Properties Rights when a shareholder leaves the company. A proper shareholder’s agreement with prerequisite voting right and dividend information is always helpful in such events.