What type of dispute resolution methods should I establish?

Disputes are an inevitable part of running a small business, and having a plan for how to resolve them is essential. In Hawaii, the most common dispute resolution methods are negotiation, mediation, and arbitration. Negotiation is usually the first option utilized when a small business dispute arises. It involves two parties communicating and working to reach an agreement. Negotiation can take place during a single face-to-face meeting or multiple meetings over a period of time. Mediation is more formal than negotiation and requires a third-party mediator, who is neutral and impartial. The mediator helps the two parties communicate and exchange ideas in order to reach a settlement. Arbitration is a more formal method and is often used when negotiation and mediation have failed. An arbitrator is a third-party decision maker who listens to each side of the dispute and makes a binding decision. The decision is legally enforceable and is often used in more complicated disputes. It is important to establish a dispute resolution method or procedure before any dispute arises. This will help ensure that disputes are resolved quickly and fairly, without a lot of disruption to the business. In Hawaii, it is important to familiarize yourself with small business law and the dispute resolution methods available so that you can make an informed decision for your business.

Related FAQs

What type of contracts do I need to protect my proprietary information?
What should I consider when making hiring and termination decisions?
What are the laws and regulations regarding employee rights and benefits?
What are the laws and regulations regarding data security?
What are the laws and regulations for hiring employees?
What should I consider when estimating and collecting receivables?
What type of trademark protection should I seek?
What should I be aware of when entering into a business contract?
What is small business law?
What are my rights and responsibilities as a small business owner?

What type of dispute resolution methods should I establish?

Related FAQs

Related Blog Posts