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How can the mediation process help companies?

On Behalf of | Jan 19, 2021 | Mediation & Arbitration

Mediation is a type of alternative dispute resolution that can allow for a more efficient resolution to disputes that litigating them. It is helpful for couples considering their options when a dispute arises to be familiar with the benefits of mediation as one option. There are a variety of different benefits of mediation to consider some of which are as follows.

Control over the process

Mediation allows the parties to have more control over the direction and settlement of their dispute. The mediator will help guide them through possible compromise outcomes which the parties can agree to rather than having the outcome of the dispute decided by a judge.

More efficient

Mediation can help expedite the process of resolving the dispute between the parties. Court proceedings take time which is also out of the control of the parties. It is typically quicker to be able to schedule a mediator, various representatives and the mediation meetings to help resolve the dispute more efficiently.

Cost savings

Mediation can be a more economical solution to a dispute because it saves on court fees and filing costs and can save on other costs as well as a dispute may drag out over time in court, costing the parties more money.

More private

Mediation is a more private option as well. Court cases become public record so the details of the settlement and the facts of the case will be open to the public. This is not the case when a settlement is reached through the mediation process, making it more private.

Mediation is one of the different types of alternative dispute resolution companies should consider to handle their disputes. Familiarity with the process and the advantages can help companies decide if mediation is a good option for them.