If you are engaged in a business dispute or see one on the horizon, you are wise to explore your dispute resolution options. Many people in similar situations have turned to mediation and were glad they did.
In the mediation process, disputing parties work together with a neutral, third-party mediator to reach agreements over legal disputes. What are the advantages of using mediation?
It is typically less expensive
A courtroom trial can last for weeks, costing you and/or your business enormous amounts of time and money. Mediation is a leaner process that is typically far less expensive. While you still have to pay the mediator for his or her services, these expenses are typically shared between the disputing parties. The total cost of a trial, including court fees and paying a legal team for potentially weeks or months of work, typically far outweighs the cost of mediation.
It moves faster than litigation
The court dockets are fuller than ever, and waiting for a trial date is a time sink many business leaders simply cannot afford. Mediation only requires the involvement of you, the party you are in a dispute with and the third-party mediator. This is typically a much easier process to organize than a full-fledged trial, and is therefore much less time-consuming.
You retain more control over the outcome
Placing a legal decision in the hands of a judge or a jury is a risky proposition, even when you think you have strong case and a stellar legal team advocating for you. Nothing gets decided in mediation without you agreeing to it. Of course, you have to find common ground with your legal opponent, which means an ideal outcome may not be possible. If you simply cannot reach a satisfactory resolution, you can always walk away from the process and pursue other legal options.