What is the process for resolving business disputes?

Resolving business disputes in New Jersey requires careful planning and execution. To begin, the parties must first attempt to solve the issue by themselves, using good faith negotiation. This may include using a third-party mediator or arbitrator to help facilitate discussions. If the parties cannot reach an agreement, the dispute can then be taken to a court or arbitration tribunal. In New Jersey, parties can pursue two distinct forms of dispute resolution: litigation and arbitration. Litigation is a process in which two or more parties go to court to resolve their dispute. Here, a judge will make a decision based on the evidence presented and applicable law. Arbitration is a less formal process in which the parties agree to have their dispute heard and decided by a neutral third-party arbitrator. If the dispute is taken to court, the parties will go through the New Jersey court system. This typically begins with a complaint, which is an official legal document that details the alleged wrongdoing and the amount of money sought for damages. After the complaint is served, the defendant may have the opportunity to answer the complaint and provide a defense. The court will then hear both sides of the dispute and make a ruling. No matter the method chosen, it is important that the dispute be resolved in a timely manner. Furthermore, each party should take whatever steps necessary to ensure that the dispute resolution process is fair and equitable for all involved.

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What is the process for resolving business disputes?

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