It takes a strong will to do business. Naturally, that means the business world is filled with strong-willed people. When two of them don’t see eye to eye on an important matter, the resulting dispute can take years to settle.
Several courts handle business disputes. The U.S. federal government’s Court of Federal Claims, Court of International Trade, and 94 District Courts all serve that purpose. State governments also have business courts. Utah established its own on October 1st, 2024. The Business and Chancery Court now serves as a dedicated forum for resolving disputes arising from partnership, employment, intellectual property, breach of contract, breach of fiduciary duty, and other commercial matters.
The Business and Chancery Court is a trial court, with jurisdiction over actions seeking (A) monetary damages of at least $300,000, or (B) solely equitable relief. It does not exercise jurisdiction over criminal matters (with the exception of acts or omission of contempt that take place in its own courtroom).
Like all business courts, the Business and Chancery Court exists to fortify the spirit of commerce. You’re encouraged to conduct business in good faith. The court simply assures you legal recourse should you engage with a party that doesn’t do the same.
Avoiding Court Is Preferable: Give Alternative Dispute Resolution a Chance
Here’s something you already know about the Business and Chancery Court (and every other courtroom, too, for that matter): you would rather avoid going there. While they are often necessary, trials are always stressful and time consuming.
Most business disputes can be resolved without involving the court at all. So long as both parties are willing, alternative dispute resolution (ADR) is also an option.
ADR is a sort of catch-all term for methods that resolve disputes outside the courtroom, including:
- Arbitration – A neutral third party reviews the disputing parties’ dispute and then makes a binding decision.
- Mediation – A neutral third party helps the disputing parties reach an agreement, without imposing any decisions on them.
- Negotiation – The disputing parties sort out their own resolution, with or without aid from a neutral third party.
Whichever form of ADR you choose, you (and the party you’re disputing) stands a lot to gain. ADR is incomparably faster than going through the court. It can easily cost less than one-tenth as much as going to trial. ADR is less damaging to established business relationships, and gives involved parties greater control over the outcome. Lastly, ADR is far more confidential. What goes on in the courtroom is public knowledge; what goes on in the boardroom is not.
Resolve Business Disputes With Hillyard, Anderson & Olsen
Are you facing your own business dispute? Contact Hillyard, Anderson & Olsen of Logan, UT today for expert legal guidance. Whether you expect to settle your dispute through quick mediation or a prolonged courtroom battle, our attorneys have the skill and experience that assure your best outcome.