Business Divorce Mediation Solutions April 24, 2020 | Business Litigation

business partner divorceIf you are involved in a business endeavor that goes sour, a divorce may be inevitable. However, since there will be many complexities involved regarding assets, transfers of power, and possibly buyout clauses, it may be difficult to reach an understanding with everyone on your own. Rather than argue to the point of filing a lawsuit and having the matter drag out in court for months, mediation may be a better option. Less formal than court proceedings, these sessions often produce many types of innovative solutions to problems. Should you want to consider this option, speak with a Palm Harbor business attorney at the Law Office of Robert Eckard & Associates.

 

Non-Monetary Settlement Options

In many cases where business partners divorce, the real issue is not necessarily about money. In fact, one business partner may simply want to retain control over certain ideas or other intellectual property they contributed to the business. If this is the case, it is often possible to sit down with a mediator and reach an agreement on a non-monetary settlement option that will benefit all parties.

 

Confidential Agreements

Depending on the nature of the business disagreement, those involved with the business may not want details of the dispute released to the public. However, should the dispute wind up in court, it will likely become a matter of public record. By using mediation, any agreements reached by the parties can be kept confidential at all times. This can be crucial, especially in situations where the public image of a company or the individuals could be seriously damaged.

 

While many business partners and others tend to seek legal remedies in court, mediation is becoming a more viable option for many. If you want to learn more about this process, schedule a consultation with a Palm Harbor business attorney at the Law Office of Robert Eckard & Associates.