Paralegals who have a keen interest in business law must have strong mediation skills and understand the common conflicts that occur in a commercial setting. Organizations of every size will often need the assistance of a neutral third party to resolve a dispute; this mediator will often be an experienced law firm. What cases will you regularly deal with?
- Contract Breaches and Terminology – When one party breaches a contract, or the two parties disagree on what the agreement covers, arbitration is usually necessary to ensure that a fair outcome is reached. The firm will also assist in reviewing the contract, and drafting new ones in such a way as to prevent any future legal disputes.
- Intellectual Property Rights – Copyrights, trademarks, and business secrets are closely guarded assets in the business world. Any violation of intellectual property rights are often met with swift legal action, though mediation is always an option if a business wishes for a faster, more peaceful end to the conflict.
- Ownership Difficulties – Disagreements among the top management of an organization can quickly escalate into outright hostility. This can have a devastating effect on a company’s operations, which is why a legal third party will often be asked to step in and mediate. In drastic cases, it may be necessary to dissolve the business entirely, and determine a fair distribution of assets and liabilities among the partners.
- Business to Business Relationships – Larger organizations will often have profitable deals with suppliers, distributors, and other major players within their industry. However, disagreements can and do occur, which can escalate into massive lawsuits without a prompt resolution. Mediation can help preserve the business relationship by finding a mutually agreeable resolution.
- Legal Liability – There are occasional cases where a business faces significant legal risk. Accusations of unfair employment practices, preventable accidents on company premises, and blatant workplace discrimination are a few examples of this. Most business would prefer to negotiate a settlement for these cases, rather than risk a protracted, expensive, and reputation damaging legal battle.
Paralegals will support attorneys throughout the mediation process, which is covered in-depth in our Alternative Dispute Resolution course. Success in business law begins with the right training and certification. Contact us today to sign up.