Disputes between purchasers and sellers of a business after closing are common. So is spending an enormous amount of time and money to resolve the dispute. If the purchase agreement contains a dispute resolution section that requires the parties to first attempt to resolve the dispute by mediation, a tremendous amount of time and expense can be saved. A mediation is basically a settlement conference at which an independent person serves as mediator to try to convince the parties to settle their dispute. Although two obvious keys to a successful mediation are the relative strengths of the parties’ legal positions and the willingness of each side to be reasonable, mediations often hinge on the talent of the mediator. As with any profession, there are effective mediators and ineffective mediators. An effective mediator has a firm grasp on the law involved in the case, has good interpersonal skills and is forceful enough to cause the parties to be reasonable and settle. If you plan on mediating a dispute under a purchase agreement, make sure that you line up a star mediator.
ABOUT GLENN D. SOLOMON
email@example.com | 443-738-1522
Glenn D. Solomon is a principal at Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years. He has extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 130 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our ten offices serve individual and corporate clients in the Maryland, Delaware, New Jersey, and Northern Virginia markets, as well as the Washington DC, Baltimore, Philadelphia, and New York City metropolitan areas. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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