Mediation is a surprisingly common tool used to help solve business disputes, across a wide variety of industries. For many people, it is a cheaper and easier alternative to pursuing litigation for business law matters. But how exactly can business mediation help your company, and when should you consider it to help with your legal issues?
What is Mediation?
Put simply, mediation is a form of alternative dispute resolution where both sides of a dispute agree to settle their differences with the assistance of a third party, known as a mediator. This mediator sets forth the rules of the conversation, and keeps both sides on track to discuss the issues at hand. If successful, both sides produce an informal agreement at the end that will create terms that they will adhere to.
What Issues Can Be Handled Through Mediation?
A wide variety of potential business disputes can be settled through mediation. These may include, but are not limited to:
- Breach of contract
- Partner disputes
- Employment discrimination
- Sexual harassment
- Wage and hour issues
- Intellectual property claims
- Payment or financing disputes
- Customer complaints
How Can Mediation Benefit Your Business?
Mediation can potentially benefit your business by helping you to resolve potential legal issues in a relatively informal setting outside of court. This can be cheaper and less litigious, and is less bound by the formal procedural rules that courts must abide by, giving you more flexibility to come to a reasonable solution. However, if the mediation does not work out, you are not bound by the mediation agreement, allowing you to pursue other options for dispute resolution, including arbitration or litigation.
What Should You Do?
The ultimate question of whether mediation would be useful for your business depends on your specific circumstances. That is why you should speak to a lawyer with experience handling business mediation matters, who can advise you on your best course of action. That way, you can ensure the best possible outcome for your circumstances.
If you have a legal issue and are seeking mediation, give the Law Office of Andrew Ross Sack a call. Andrew Ross Sack is a New York and New Jersey mediator who has considerable experience in handling the many aspects of employment and business law. To schedule a consultation with New York City/Long Island/Westchester mediator Andrew Ross Sack, call (516) 526-3319 or visit his contact page.