Mediation is not only a non-adversarial approach to dispute resolution, it’s also a cost-effective option to litigation.
Like paying taxes and integrating new technologies, business disputes are an inescapable part of running any business. It could be about a contract, a verbal agreement, or maybe a dispute with your labor force. You may even need to break ties with a long-time business partner.
No matter the conflict, it can be overwhelmingly frustrating as well as emotionally and financially draining to navigate. When things get heated, it can feel like the only way forward is a long, public, expensive court battle.
But luckily, there are methods to eliminate this kind of complication, where a peaceful resolution to your conflict can be found.
These methods begin with mediation.
At its core, mediation is a voluntary process where a neutral third party – the mediator – guides two or more parties in dispute through their conflict. The purpose of this semi-formal process is to ensure all parties’ concerns are heard, allowing them to generate their own solution via a productive dialogue.
Mediation can help you settle your business dispute out of court
Agree on how to resolve the conflict.
- Understand the disagreement by
carefully getting to the heart of the conflict to clarify a common goal.
- Discuss ways to meet the common goal while overcoming obstacles by brainstorming together.
- Agree on the best way to resolve the conflict after both parties have acknowledged a win-win situation.
What is the true cost of conflict?
Retaining the power to control the outcome of the conflict is just one of the many benefits mediation has over litigation. It also saves time and money, is less adversarial, is confidential, and is structured in a way to maintain relationships and prevent reoccurrence.
The result of mediation is a written, signed agreement that all parties agree represents the most mutually beneficial solution.
It’s more than being right or wrong,
mediation is a business asset.