DON'T FALL FOR THESE MISLEADING MISCONCEPTIONS ABOUT COMMERCIAL DISPUTES AND ARBITRATION

There are nearly 28 million small businesses in the United States, and it's not uncommon for commercial disputes to arise within one or more businesses that require proper mediation with a corporate law firm. That being said, before you enter the commercial dispute process, it's important to be aware of the facts. Don't let yourself fall victim to these common myths about partnership disputes and other types of commercial litigation. 

I don't need a lawyer -- I can resolve disagreements on my own.

This is a common myth circulated by business executives that have a bit too much confidence. The fact of the matter is that each and every business dispute is different, and your lawyer is always there to advocate on your behalf and keep you informed through every step of the way. There will never come a time where you're better off working through a commercial dispute without an experienced lawyer by your side.

All business dispute cases go to trial.

This is another common misconception, but it couldn't be more wrong. The vast majority of commercial dispute cases and legal proceedings don't end up making it all the way to trial. This means that it's settled out of court and without the final ruling of a judge. You should also be aware that even if your case does make it to trial and the opponent loses, the commercial laws are designed to reward the winning party rather than punish the losing party.

The cost of lawyers makes them not worth hiring for a business dispute case.

Finally, this myth is very misinformed. Not only will the right lawyer be within your price range, but most reputable law groups have versatile payment options that make it easier than ever to pay without putting a serious dent in your budget.A failure to know or apply the law was cited as the number one reason for legal malpractice claims filed in the U.S. in 2010. But regardless of the cause of your business dispute, understanding the truth about the process is the key to getting what you deserve. For more information about commercial disputes, contact Heritage.