By Tracy B. Stewart, CPA, CFP, CDFA
Reprint from Today's CPA, May/June 2005
While she was traveling, Marilyn's husband, Jeff, canceled her credit cards. He also filed child endangerment charges against her. When she returned, authorities put her in a mental health care facility to protect her child. Marilyn was not insane, nor was she a danger to her child. Jeff was filing for divorce, and was legally positioning himself for control of their finances and custody of their young child.
Resolving Business and Commercial Disputes with the Collaborative Process
Often business disputes or commercial litigation can potentially harm long-term business goals and relationships. And litigating disputes often costs more than the dispute is worth. The collaborative process can help mitigate many of the risks of commercial litigation. During the collaborative process both parties, along with their lawyers and neutral financial experts (if necessary), work together to craft a resolution that is unique to their specific business situation. The goal of the collaborative process is to help businesses resolve conflict without destroying or diminishing the value of the business.
What makes the collaborative process better than traditional litigation for business disputes?
An expert in your business develops the resolution. No one knows your business better than you do. You will work with your lawyer and the other party to craft a resolution that is best for your business. You won't risk a settlement from a judge who may not understand the intricacies of your situation. Once both parties come to an agreement, the resolution will be drafted into a court order which, when signed by the judge, becomes an enforceable decree.