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4 Reasons to Use Mediation in Settling Business Disputes

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Mediation is an effective tool for settling a variety of disputes, but it can be particularly helpful in business disputes. Its effectiveness is more obvious when the relationships between the parties are more personal, such as those involved in smaller businesses. When a dispute breaks out between two people, especially those who are business partners, it can mean the end for the business. Not only does litigation ruins professional and personal relationships, it is also expensive and time consuming. When disputing parties have personal relationships at stake, as well as business issues, mediation provides an effective and low-cost (compared to most lawsuits) alternative to litigation.

A neutral third party mediator leads this usually voluntary process. He or she facilitates discussion and works with the disputants in coming up with a resolution that is amenable to everyone. The mediator does this in a neutral manner, meaning he or she does not work on behalf of either party. The benefits of mediation are numerous and include:

1. Reducing the risk for future conflicts by repairing and preserving the current business relationship.

The process makes it possible for both sides to move forward and mend the relationship by allowing them to speak their mind and discuss the emotional aspects of a dispute. Resolutions are more easily reached when both parties have a chance to clear the air once and for all.

2. Providing a confidential yet informal environment.

The process is completely non-adversarial so there are no winners or losers. Instead of dragging the dispute to court and spending months or years in litigation, mediation allows businesses to read a resolution in as little as a few hours or a couple of days, depending on the effort they put into the sessions.

3. Reaching a mutually satisfactory resolution for everyone involved.

To avoid the harsh all-or-nothing outcome of a trial, mediation requires a lot of give and take. It seeks determine what is best for resolving the matter, regardless of the fault, instead answering the question of who was right or wrong.

4. Creating a scenario in which parties are more likely to comply with the resolution because they played a role in creating it.

Disputants become more open to compromise and effective communication when they are given control of the situation from the beginning.

Although mediation is certainly a good place to begin, it might not bring a solution to all kinds of dispute. However, parties are free to pursue other forms of dispute resolution, including taking the case to court if a resolution cannot be found. If you are involved in a business dispute and it is important to you to preserve the relationship and find a resolution, contact an experienced mediator in your area.
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