Contracts are the lifeblood of the business world. They outline obligations between two parties, they protect the interests of everyone involved and they help avoid various types of legal complications. Contracts typically work well, up until the moment that they do not. If you are dealing with a breach of contract matter, you may be wondering what your next step should be.
There are many ways to approach a breach of contract. Many California businesses opt to litigate the matter to reach a beneficial resolution, but that is not always necessary. In fact, alternative dispute resolution offers you a better, possibly more effective way to deal with these matters. Mediation can help you stay out of the courtroom and save time, money and stress.
The benefits of mediation over litigation
There are many benefits to employing the mediation process over a traditional lawsuit and litigation process. Some of the most important benefits that this type of ADR has to offer include:
- It takes less time to complete.
- It costs less than traditional litigation.
- It often leads to better resolutions.
- It is less complicated than litigation.
- The results of the mediation process will remain confidential.
- It can help preserve business relationships.
- It allows parties more control over the outcome of the process.
Breach of contract can happen for many reasons, and often, the party responsible for the breach is willing to work on a solution outside of court. It can be prudent and more cost-efficient to remember that there are many non-adversarial ways to seek a financially beneficial solution in even the most complex of situations.
Seeking the right outcome through mediation
Mediation may be a more peaceful way to seek a beneficial outcome to your breach of contract issues, but that does not mean that you should not fight for the best interests of your company. Through negotiations and discussions, you may be able to seek reasonable recovery for your losses and inconvenience.
The types of damages often sought after a breach of contract include compensation for financial losses, recovery of attorney fees, punitive damages and more. What is available to you depends largely on the individual details of your case and the nature of the breached contract.
The best interests of your business
Contract disputes and breach of contract issues are a direct threat to the well-being of your business. You do not have to deal with these matters on your own or simply hope for a positive outcome, but you can fight for the best results by first seeking a full explanation of the most appropriate course of action for your business.