How Your Company Can Benefit From Mediation
Has your company ever been in dispute with another company? Has your company ever wondered how best to solve a dispute with another company or maybe even a client?
If your company finds itself in dispute with another company, mediation is one of the most common and best ways to find a resolution (and a peaceful one at that) to a dispute. If you’re wondering, what is mediation, quite simply it’s a meeting of two parties (in this case let’s say your company and another company) with a mediator to resolve an issue. A mediator is a sort of impartial middle man who listens to both companies’ arguments and then makes a final decision.
If your company finds itself in a dispute with someone or some company, medication is arguably the best and quickest way to resolve an issue, especially if you want a peaceful resolution where both parties are satisfied. In some cases, companies may opt to use stand-by mediation, where mediators are used on an on-call basis usually in arbitration or litigation cases.
Benefits of mediation and stand-by mediation include:
- Privacy: It doesn’t matter what your company might use stand-by mediation for, individuals and companies like their privacy. The same is true in general mediation cases where litigation, bankruptcy or family court might be involved. Rather than airing dirty laundry in a public fashion in a court room, companies can send legal representatives to meet with a mediator, discuss conflicts in a peaceful setting and ultimately find a resolution in a more private setting.
- Less stress: It doesn’t matter what kind of dispute your company might be in, it can be a stressful experience. As such, having the privacy of mediation can be very helpful, and both parties involved will undoubtedly be more comfortable and thus more willing to work out whatever issues there are.
- Confidentiality: One of the best things about mediation and stand-by mediation is that once a resolution has been reached, those discussions are usually kept confidential. This stands in contrast to court proceedings where discussions and transcripts are often made very public.
- Money: Let’s say your company and a company you’re in dispute with are stubborn and believe very strongly that the other part is in the wrong. If that’s the case, you both likely know that court costs can add up quickly if you both sense a lengthy trial ahead. Rather than spending money like it’s going out of style and not getting results, mediation is often a more peaceful alternative and will save companies a lot of money.
- Convenience: Mediation can be very useful because companies can agree on times and dates for meeting, rather than being bound to strict times and dates.
- Control: When it comes to arbitration, litigation and other kinds of legal disputes, companies ultimately just want to find a resolution to a problem and get back to work. Stand-by mediation and regular mediation provide avenues for that resolution, allowing companies to work together to come to an agreement. In the end, even if the mediator rules against your company, you can generally be satisfied with the decision since both parties had their say.
- Peace of mind: Win or lose, your company can better accept a mediator’s decision since they are fair and worked with your company to find a peaceful resolution to your dispute.
- Input: Another benefit of working with a mediator is that both companies have a certain degree of input as the mediator works toward making his or her final decision. You’ll be able to discuss terms that work for both sides and avoid having to waste each other’s time or money trying to figure out a solution.
Whether you’re trying to settle a simple civil case or a federal dispute, mediation can help bring about a faster and more peaceful resolution to any dispute you may have. It’s estimated just about 1% of civil cases typically reach federal court, so if your company finds itself in the middle of such a dispute, think about opting for mediation instead of tying up both sides in a nasty court case. With medication, you’ll feel better about the decision and get a lot more privacy.