Mediation is a process increasingly used by business professionals to resolve disputes without resorting to expensive and time-consuming litigation. In mediation, both parties to a dispute meet with a neutral third- party—often a mediator—to negotiate a settlement or agreement that resolves the dispute.
What Is Mediation?
Mediation is a dispute resolution process that gives all parties the opportunity to have their voices heard and take part in the decision-making process. The mediator helps the parties reach consensus and outlines any agreements between them. The mediator does not make a ruling but rather helps the parties come to an agreement and–if necessary–work out details of that agreement.
The Advantages of Mediation
Mediation offers several advantages over more traditional methods of resolving disputes. It is typically faster and more cost-effective than litigation, especially when the parties are able to negotiate and reach an agreement. It is often more successful at resolving differences, as the parties are more likely to accept a resolution they have agreed upon than one imposed on them by a judge.
In addition, mediation offers the parties greater control over the outcome, privacy, and freedom to explore creative solutions. Moreover, it provides an opportunity for the disputing parties to work better with each other in the future, since the process is focused on finding an acceptable solution, rather than determining who is right and who is wrong.
When Is Mediation Most Effective?
Mediation can be useful in resolving many types of disputes, including disputes between business partners, employees and employers or customers and suppliers. It can also be useful in disputes between family members, such as in divorce and child custody issues. Mediation is typically most effective when both parties are willing to come to the table with an open mind and discussion, and have faith that an agreement can be reached.
Conclusion
Mediation is an effective tool for resolving disputes without costly and lengthy litigation. By providing both parties the opportunity to have their voices heard and to take part in the outcome, mediation can ensure an agreement that is mutually beneficial and leaves the relationship intact.