An Alternative To Litigation
Collaborative law or collaborative dispute resolution is a process in which both parties are represented by a single lawyer in a divorce or other family law or civil litigation matters without going to court. The focus is to negotiate an effective solution. It is a constructive alternative to litigation. The process encourages the parties to seek advice from neutral advisors on financial and other related issues. In fact, MBA judges its success not on how many court cases are won, but rather by the number of times the issue of value is resolved based on the strength of the valuation report with out court or even a deposition.
In other cases, the individual parties are each represented individually by attorneys, but they agree to use a single advisor for issues such as the business valuation. Both parties engage the business appraiser and agree to abide by the independent value.
The advantage for both parties in a collaborative dispute resolution is that they save on cost.