Disputes arise when two parties disagree on something. When business terms and contracts are breached, or when Trademarks and IP are interfered with, copied or challenged defences go up. It’s quite often due to a lack of guidelines, procedures and policies that can be the hardest hitting.
Resolving disputes can take a lot of time and energy and often ends up affecting the running of your business. There are some things you can do as a business to ensure you don’t find yourself in hot water. After all, you want to just keep on with running your business, not dealing with disputes that could have been avoided.
– Invest in some Terms and Conditions that allow both parties to know where they stand at any point. When a situation arises, refer here first. These need to be written and available on your website and/or the back of invoices, and in any contracts.
– Do you have all the written contracts or agreements you need for each area of your business? Handshakes, text messages and messenger messages don’t quite cut it when disputes arise. Get as clear as possible.
– Cash flow can be an issue in business, and it’s hard to be chasing people up when your payment terms have not been clear. Include your payment terms, payment details, and what happens if a client or customer does not pay on time.
– Consider having written business policies and procedures. These will help guide your team through disputes if they arise. This also allows you to work with team members, if they have not been following the set out policies and procedures. It sets the expectations and the benchmark.
– Make sure you read any contract you are handed before you sign it. It might seem like a waste of time, but if you don’t know what you are signing, the you are leaving yourself and your company wide open for things to go wrong.
– Ensure you have the appropriate insurances in place. Insurance is important for good reason. If something was to go wrong, you are covered for various things such as being sued, loss of business, and other factors. Ensure you choose a policy that works for your business type and the industry in which you work in.
– If you feel you need help, make sure you request it early. Don’t wait until things are completely out of control before you ask for mediation. Early intervention helps retain business relationships.
Peace of mind as you walk through the business journey is so crucial. Knowing that you have a national mediation company on your side, for example, when you need advice or mediation of disputes, can be the one thing that can give you this peace of mind. Why not get in touch with SHAW Mediation Australia, and let us be your legal backup as you focus on your productivity and growing your business.