Building bridges, healing families: Embracing alternative dispute resolution mechanisms in a joint family business dispute

The primary objective of this study is to determine the effectiveness of alternative dispute resolution mechanisms in the case of joint family business disputes in India. Furthermore, this paper also places valuable emphasis on the impact of child welfare during the occurrence of such a dispute within the family. This research uses a qualitative research design through a structured in-depth literature review on family disputes and their settlement through arbitration, mediation, conciliation or negotiation. The literature review aims to analyze the literature penned down by several academicians and research scholars comprehensively. This research aims to determine the efficacy of alternative dispute resolution mechanisms in the case of a joint family business dispute. It also recognizes the gray areas pertaining to the resolution of disputes alternatively. Moreover, this paper aims to provide viable and efficient solutions that can lead to resolution of lapses in the system. The present study is among the few studies that aim to address the issue of the resolution of a joint family business dispute, not through the process of litigation but by settling the disputes alternatively through various means and their depiction through a flowchart. Moreover, it aims to address the issue of the problems associated with the mechanisms of resolving disputes alternatively and thereby providing efficacious solutions for the same.