Whether shareholders are at odds, hiring and firing decisions get messy, or you’re facing a breach of contract with another entity, resolving a business dispute can become quite taxing. Trying to handle the dispute on your own may not always be possible, but taking matters to court through litigation isn’t always the best option either. Consider the benefits of business dispute mediation.
Figuring out how to repair a relationship with a business partner is no easy task, which is why business dispute mediation is a popular recourse to take when things take a turn. In mediation, a third-party mediator helps guide a collaborative discussion toward an agreed-upon resolution. This allows for a creative and individualized solution for all involved without the opinions of a judge or jury determining what’s best for your business. Here are some of the benefits of business dispute mediation:
When considering conflict resolution mediation, you have to look toward the end result. The main objective of mediation is for all involved parties to collaborate on a mutually beneficial agreement. Rather than having a judge or jury decide what’s best, mediation allows for those impacted the most to have their say.
Resolving workplace conflict is hard enough as it is when you’re dealing with disputes in-house. But when your conflict extends beyond business walls and begins to impact business partners and heavy-hitting relationships, business dispute mediation can help recover what may otherwise be lost in terms of brand relations. One of the reasons many people choose mediation over litigation is that mediation allows for privacy. You can typically speak freely between all parties and the mediator without it becoming public record. This can help greatly when it comes to public relationships and your brand’s reputation.
Another major difference between mediation and litigation is typically cost. Business dispute mediation is likely to cost you and your company less than a case that includes trial and possible appeal. Mediator fees are usually split up among the involved parties which is a much less expensive option than paying individual lawyer expenses.
Using mediation in business disputes can go a long way to strengthen a relationship that may otherwise feel lost. The sheer collaborative nature of mediation can help you and your sparring entity understand your similarities rather than focus on your differences. Rather than take things into a legal arena where tensions are bound to flare up, mediation helps keep the focus on mutuality.
While mediation may not be for every business and every case, it certainly has its benefits. It does require a degree of trust and respect between you and your disputing entity otherwise a compromise is sure to be missed. If you’re facing a conflict where compromise is an impossibility, you may need to consider other options.
Pursue business dispute mediation today, or discover what your most appropriate course of action is, by contacting Pollack Peacebuilding Solutions. Don’t let your business relationships suffer over common disagreements and roadblocks.