Disputes are one of the most frustrating aspects of business. They have the ability to damage beneficial relationships, cost companies time, money, and other resources, and have a bearing on the reputation of a business. Disputes hashed out in the public arena of a courtroom tend to create the most chaos and long-term damage.
Luckily, there is a better option. Resolving business disputes using mediation provides an effective and efficient way to deal with legal problems in business. The process utilizes the expertise of a third-party neutral (the mediator) to assist disputing parties in reaching a settlement. He or she guides the discussion and ensures all parties stay focused on moving forward and resolving their differences.
Mediators do not make binding decisions or ruling. That is left to the parties involved. The mediator oversees the process and keeps things moving forward.
Some benefits of mediation over litigation when it comes to resolving business disputes include:
Mediation provides an efficient and effective way to resolve business disputes. It is overwhelmingly positive and often ends in a settlement. However, should this prove impossible, disputing parties have the option of using arbitration or litigation