Aurora, CO asked in Arbitration / Mediation Law and Business Law for Colorado

Q: I am a co-owner of O My Goodness LLC me and other co-owner is 51% and I am 49%. Our agreement was I ran the business

Is that not a breach of contract our operating agreement also states that any disputes would be handled through mediation but her attorney is not for that what do I do?

1 Lawyer Answer

Tristan Kenyon Schultz

Answered
  • Fort Collins, CO
  • Licensed in Colorado

A: If there is another attorney involved, I recommend that you hire your own attorney. Turning to your substantive question, as a general rule, provisions that mandate mediation are binding on BOTH parties. Considering that you are the lesser partner/owner it is very likely that the mediation provision is binding (review the operating agreement). Also be aware that mediation (a neutral 3rd party ties to reach an agreement between the two sides) is not the same as binding arbitration (in which a private party acts like a judge out of court).

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