What is the process for resolving business disputes?

In Michigan, the process of resolving business disputes depends on the nature of the dispute and the parties involved. Generally, parties can attempt to resolve the dispute through negotiation, mediation, or arbitration. Negotiation is when parties attempt to come to a mutual agreement without a third party facilitator. This process involves communication between the two sides, working to come to a resolution that is satisfactory to both. Mediation is when a third-party mediator acts as an intermediary to help the two sides come to an agreement. They will listen to both sides, and may make suggestions or offer solutions to the dispute. Mediation is non-binding, so either side can walk away from the mediated agreement if they do not find it acceptable. Arbitration is a more formal process where a third-party arbitrator acts as a judge and renders a decision. This decision is usually binding and enforceable in court. In Michigan, arbitration must be agreed to by both parties and is conducted according to the rules of the American Arbitration Association. Finally, if all other attempts to resolve the dispute have failed, then either side can pursue legal action in court. This is known as a lawsuit, and the final decision by the court is binding and enforceable. Overall, there are a variety of ways for businesses to resolve disputes in Michigan. It is important to remember that all of these processes should be properly documented and agreed upon in order to ensure that any resolution is legally binding.

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What is the process for resolving business disputes?

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