Small and large businesses may benefit from using mediation – rather than litigation – to resolve conflicts.
Mediation is a voluntary process where a neutral third party – the mediator – helps guide two or more parties work through a business dispute. 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.
The result of business mediation is a written, signed agreement, which all parties agree is the most mutually beneficial solution.
Retaining the power to control the outcome of the conflict is one of 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 business relationships and prevent re-occurrence.