Chicago Business Transactions | Business DisputesWhile business disputes are almost impossible to predict, they are often inevitable at some point for any long-term business partnership. Business disputes can also be incredibly varied, where some may result from minor technical disagreements and others may develop into costly litigation battles for company rights. In any case, it is crucial to understand the basics of business disputes in order to best minimize personal risks and protect  professional interests for a business.

Avoiding Business Disputes

One key method to lessen the likelihood of future business disputes is to regulate day-to-day operations through written employment contracts and sale agreements. Another tactic for reducing conflict is to create standardized codes for office behavior and clear guidelines for hiring and firing employees. It may be helpful also to create an avenue in which employees and other business partners can openly express grievances or complaints.

Common Business Disputes

While business disputes can arise from any type of agreement or contract, there are some forms of business disputes that are more common than others, such as breach of contract disputes or partnership disputes.

A breach of contract occurs when one or more parties believe that a portion of a contract was violated or broken. Breach of contract disputes are oftentimes considered the most prevalent form of business dispute, since a breach of contract dispute can include any type of contract, from employment agreements to commercial purchase contracts to landlord-tenet agreements.

Partnership disputes on the other hand can involve any disagreement between two or more business partners. This could be a disagreement over the best business decision to make for a company or it could be related to feuds over proper financial compensation for prior investments or it could even involve feuds over leadership and decision-making abilities.

Seek Legal Counsel

Even with all these precautions, it is still very possible that business disputes may occur in the form of partner disputes, employment disputes, member disputes, or even business litigation. Regardless of the form of the business dispute, it is crucial to receive legal counsel in a timely manner so that your case receives the deserved legal attention. You contact on of our Chicago business dispute attorneys by filling out your information on the sidebar or by speaking directly with an attorney at 1-312-789-5676