Consider mediation for every business dispute that you face. Not every business has to settle a legal problem in court in front of a judge and jury. Whether they’re in Tennessee, Mississippi, Arkansas or Kentucky, small business owners often have trouble raising money to hire an attorney and pay legal fees. Mediation is recommended to speed through a process that could become more complicated in a court setting.
The general proceeding
During mediation, a neutral third party helps resolve a business dispute. First, the mediator identifies the problem and allows both sides to state their argument and present their evidence. The mediator helps both sides to create a mutually beneficial decision that ends in a settlement. When a professional mediator is used, the participants are more willing to follow through with the final decision.
How the process differs from litigation
A mediation is cheaper, shorter and faster than going through litigation. The average mediation session lasts for two hours and may require one or more sessions. The participants and their attorneys choose the dates and times that work conveniently for them. A business dispute can be resolved within one day or within two weeks. In addition, there are free or affordable mediation services that are available from local legal organizations.
Alternative options to settle disputes
Disputes in business occur regularly, and each one is inconvenient and time-consuming. To reduce the hassles of moving through a dispute, business owners are encouraged to pursue an alternative dispute resolution (ADR). The purpose is to save time, money and effort by undergoing mediation instead of going through litigation.