As a company that is facing a lawsuit, one thing you may want to consider is pursing mediation or arbitration. If the other party is not willing to negotiate directly, using a mediator or arbitrator can help move along the case and give you an opportunity to reach a fair settlement.
Mediation is one excellent way to handle a lawsuit because it allows you, the other party and a mediator to come together to discuss possible resolutions. If you’re willing to work together toward a solution, then mediation can be a great choice. It’s a good idea to hire a certified mediator that you and the other party agree on, so there is no question as to the mediator’s neutrality.
What if mediation isn’t a possibility?
If mediation isn’t possible, another option to pursue is arbitration. This is more structured than mediation and is set more like a trial. An arbitrator will hear both sides of the case and see evidence from either party. Like in a normal trial, the arbitrator will come up with a resolution for the dispute at the end.
The difference between mediation and arbitration is that mediation is generally nonbinding. Arbitration usually is binding. So, depending on the situation you’re in, time restraints and the likelihood of coming to an agreeable solution, one may be better than the other for your problem.
Alternative dispute resolution can help keep your case more private and out of court. If you’re interested in learning more about it, your attorney can give you details about mediation and arbitration as well as which may be a good fit for your case.