Managing a business can make you swim waters not even the sharks dare tread; inevitably you may even be forced to jump right into the thick of things just to handle a big dispute. And you can’t always hope for the best and leave things uncertain. Some things don’t really work itself out without the proper intervention.
Resolving a dispute between two conflicting parties is not an easy process- it can last for months to years before things cool down. But not to worry, there are better ways to handle company conflict without getting your hands dirty; this is where business mediation comes in. Mediation can help you cross the line towards resolution and avoid litigation at all costs.
Business owners can lose certain decision-making rights over their companies as control can be placed in the hands of a judge during a painful litigation. A scenario that is a nightmare in itself- do you think a judge would know how to run your business for you?
So no matter what the situation, mediation is arguably the best solution for any dispute. Why?
Mediation has a reliable structure in place and has rock solid confidentiality agreements for both parties to sign. As confidentiality is important to any mediation, it allows both parties to air their grievances and to be more open to resolving a dispute. In hindsight, the terms of a settlement are often fair for both concerned and worth the mediation process.
Here’s three ways on how Mediation can save your business from a tough dispute:
Save Time and Money by Reaching a Compromise. Mediation is about finding the best solution that works for both parties involved- with the least cost, participation and loss as possible. You both have the right to consult with lawyers anytime during the process, before any agreement gets sign, both parties can review the paperwork until both are satisfied with the terms of the settlement. An added advantage is that any company can manage their legal fees properly and schedule mediation sessions accordingly while consulting fully with their legal team on the side.
Keep Your Reputation Under Control. Disputes can be messy and mediation can keep your business out of the public’s view. Since mediations are a confidential business process, no one’s going public with anything unless most of the issues are resolved and everyone’s on the same page after much discussion; Aim for minimum damage and keep your business intact.
Save Your Business Network – this includes your relationship with clients and suppliers. Mediation can help you sustain your business network and how clients will view your company’s relevance and maturity in handling disputes in the future hereon. The results of mediation say everything about how you value your business relationships. If it comes out positively, more opportunities for growth can come afterwards.
And more importantly, your business can embrace the change after the terms of the mediation are enforced. All parties can move forward- away from the dispute and into doing better business.
The author provides conflict resolution and mediation services to individuals and companies in the United Kingdom.