There are times when disputes between business partners arise, and it can be difficult to settle them without outside help. Mediation is a process that can help to resolve these disputes, and it can benefit both parties.
To start, mediation is often cheaper than going to court. It can also be faster and more informal than traditional methods of dispute resolution. This means that it can be a good option for small businesses that don’t have the resources to take their dispute to a lengthy court battle. Court cases can drag on for years, but mediation helps to make the whole process as quick and painless as possible. The most important point about mediation, however, is that it can help both sides to come to a mutually acceptable solution. This can potentially save business relationships and prevent future problems from arising.
What is mediation?
Mediators are neutral third parties who help both sides resolve their issues together. They are typically experts in the field of dispute resolution, and they work to help both parties come to a compromise. It is their job to ensure that both sides understand their options and that they come to an agreement that is acceptable to both. The mediator doesn’t make any decisions, but they facilitate the process and help both sides to understand each other’s points of view. The mediator doesn’t take sides, and they don’t give legal advice. Their role is purely to facilitate communication and help both sides come to an agreement. Both parties can recruit the help of their own legal counsel if they choose.
How does mediation work?
The first step in mediation is for both parties to agree to participate. They will then meet with a mediator and talk about what the dispute is about and what they hope to achieve from the process. The mediator will help to create a proposal that both parties can agree to. If they are unable to reach an agreement themselves, they can request that the mediator provide them with further options. Ultimately, it’s up to the disputing parties to decide on a settlement.
Including mediation in your business contracts as the dispute resolution method of choice can give you protection from expensive and time-consuming lawsuits in the future. For any further assistance in legal strategy for your business, or resolving difficult business disputes, contact Baker Jenner LLP today to schedule your consultation.
Baker Jenner LLLP
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