When Alternative Dispute Resolution, Such As Mediation, Offers The Most Effective Outcomes
Even if you are facing an extra difficult business or commercial dispute, litigation is not necessarily the best way to resolve it. An alternative dispute resolution (ADR) method, such as arbitration or mediation, may be preferable. Sometimes, ADR is the only reasonable direction to take when a conflict proves difficult to resolve but there are barriers, such as cost, to filing a lawsuit. Many business owners, managers and others in positions of leadership or decision-making find mediation to be the most positive and effective way to resolve a dispute in a timely and reasonable manner.
At YK Law, our business and commercial litigators often represent clients in mediation instead of in court or arbitration. When you understand the benefits of mediation, it stands out as a rational and satisfactory choice.
How Mediation Works To Resolve Business And Commercial Law Conflicts
In mediation, disputing parties meet with a neutral mediator who takes the lead in helping them arrive at an agreed settlement. The resulting agreement may indicate that one party will pay the other for goods or services, or that one party will deliver goods or services that the other was expecting and paid for. If a court case is pending, the resolution is then reported to the court and the matter is likely concluded. The judge, jury and public do not need to know any of the details leading to the resolution.
The advantages of mediation are many. Above all, it is private and confidential. The timeline is adaptable for the convenience of the parties involved. The parties who will live with the outcome are the same ones who make the necessary decisions through conversations facilitated by the neutral mediator.
Most commercial disputes that go to commercial litigation settle. On the contrary, when litigation leads to a verdict by a judge or jury, appeals are common. Mediation allows disputing parties to take greater ownership of the decision(s) that they make together with their opponents. Together, they often come up with far superior solutions than what any outsider, such as a judge, might be able to do.
Another benefit of commercial mediation is that parties must often resume their working relationship, and the amicable, or at least respectful, nature of mediation encourages this.
Explore Options For Your New York, Dallas Or California-Centered Commercial Or Business Dispute
Mediation is applicable for virtually any civil legal dispute. Our attorneys can represent you in business, family law and estate-related disputes by advising you before or during mediation sessions.