When a business and another party disagree, the result could be litigation. But not every dispute has to wind up in court. And even if a lawsuit has been filed, there are alternatives to conducting a trial. One of those is mediation.
If your business is having trouble with another business or individual, it’s time to consider mediating the matter. An experienced New York business lawyer can represent you during mediation to help protect your rights and interests.
Count on the dedicated legal team of Rosenbaum & Taylor to advocate for you. Call us today at 914-326-2660.
What Is Mediation?
Mediation is an out-of-court procedure in which a mediator helps two parties resolve a dispute. The mediator is a neutral third party who has no stake in the outcome of the disagreement.
Unlike a judge, a mediator cannot compel either side to agree to anything. A mediator issues no orders but can help the parties negotiate and settle on mutually agreeable terms. Nearly any type of business dispute is eligible for mediation, even if a lawsuit hasn’t been filed.
During mediation, the mediator listens to both sides explain their viewpoints on the disagreement in question. The mediator often has experience with court, so can sometimes discuss how a judge might view the matter. This helps the parties weigh the risks of litigation against the benefits of settlement.
During the session, the parties or the mediator may propose a potential settlement agreement. This offer gets discussed and modified, with help from the lawyers representing the parties. The lawyers can also discuss the potential legal consequences of the settlement terms and related matters.
What Are the Benefits of Mediation?
Compared to traditional litigation, mediation offers a number of potential advantages, including the following.
1. Saving Time and Money
Mediation tends to be less costly and quicker compared to court. With a lawsuit, parties have to conduct discovery, have hearings, file pleadings, and take numerous other steps. These all take time and money, in addition to waiting for a trial to be scheduled.
2. Control Over the Outcome
If your case goes to trial, the judge may order something the defendant doesn’t like. But you also might not like the outcome. Nobody understands the issues at stake better than the parties themselves. Mediation allows them, not the judge, to control the outcome and devise a solution that works best.
3. Creative Solutions
Similarly, mediation lets the parties come up with creative solutions that judges might not. Judges are busy and have to make decisions in countless business cases. At some point, those decisions become somewhat standardized. You can achieve a more customized outcome through mediation.
4. Clarifying Issues for Trial
Not all mediations are successful. And if your mediation doesn’t work out, then a trial is potentially the next step. However, mediation is still useful in that it can clarify issues for trial. You can gain a better understanding of the other side’s position and prepare accordingly while refining your own arguments.
5. Preserving Business Relationships
A significant damages award might be tempting, but a business must consider its long-term implications. A lawsuit risks destroying a valuable business relationship you’ve built with the other party. Mediation can preserve it by facilitating compromise and helping the parties move forward.
Let Us Help With Your Business Law Dispute
Whether a lawsuit has been filed or one is threatened, it’s time to give serious consideration to mediation. Our experienced New York business lawyers can represent you during mediation. We can advise you on potential settlement offers and ensure your interests are being protected. If mediation fails we will be prepared to take your case to court.
Reach out to Rosenbaum & Taylor today to learn more.
