Is small business mediation the right choice for you?
On Behalf of McNabb, Bragorgos, Burgess & Sorin, PLLC | Dec 5, 2022 | Mediation
If you are a small business owner in Tennessee, you may benefit tremendously from using mediation instead of litigation to resolve conflicts. In this article, we will discuss what mediation is and the best ways it can be used to your advantage.
What is mediation?
Mediation is an alternative to litigation; it costs much less and is often very effective in resolving disputes. It is a collaborative process that allows both sides in a dispute to articulate their concerns and come to a mutual agreement. If you fail to reach a resolution during mediation, you still have the option of litigation to let a judge decide the solution
What does mediation look like?
Mediations take place in a private conference room instead of a courthouse. First, the participants will choose a mediator, a neutral third party, who will assist them in resolving the dispute. Although the mediator has no power to force a solution, they can offer suggestions for resolution. The purpose of mediation is to find a solution that both sides can agree upon.
Some advantages to small business mediation
• Saves money
• Saves time
• Offers more confidentiality
• Reduces hostility with the other party
What you can accomplish with mediation
Usually, mediation ends with a signed agreement between the two participants. Having a conflict with a business associate doesn’t necessarily mean that the relationship must end. Often, when you reach a consensus decision the parties can continue a business relationship.
Ideally, businesses should always run along smoothly with no conflicts. However, it’s inevitable that you will face some type of disagreement. Fortunately, you have an alternative to going to court-you can choose mediation instead.