In business, the best course of action is to avoid problems before they ever occur. However, once business disputes have begun, there are still options to proactively avoid escalating the situation. Mediation saves time, money and energy that could be otherwise invested in your business.
Using a neutral third party to help resolve business disputes helps to achieve a win-win resolution. Mediation is confidential and a risk-free way to avoid going to court. Additionally, mediation can be used even after a case has already gone the court. It is prudent to exhaust all levels of resolution options when facing business disputes.
What is mediation?
Mediation is a way for business owners to settle disputes outside the court system with the help of a third-party mediator. This process is also known as Alternative Dispute Resolution (ADR).
What are some of the advantages of mediation as a Florida business owner?
According to the U.S. Office of Special Counsel, the following are advantages of mediation:
- It’s informal: Meeting face-to-face in a conversational manner often leads to a satisfactory resolution for both parties involved.
- It’s confidential: Mediation sessions are not usually tape-recorded or transcribed. The ability to speak freely helps facilitate open and honest communication.
- It’s economical: Even with the help of a professional third-party mediator, mediation is often significantly cheaper than a lengthy court battle.
- It gives satisfactory results: Negotiating parties have a greater degree of control to reach mutually satisfactory results rather than having them imposed upon them by a court.
Mediation should be entered into with an open mindset that diligently seeks a peaceful solution to business disputes. Legal counsel that is experienced as a third-party mediator and alternative dispute resolution is best equipped to facilitate disputing parties come to a peaceful solution.