There are many possible ways to resolve a business dispute without the need to argue it in a Washington courtroom. In many cases, mediation may be a quality alternative to litigation. There are many potential benefits to mediation including the ability to retain control over the outcome of your case.
Mediation is collaborative
Litigation is an adversarial process in which you compete with the other side in an effort to obtain a favorable outcome for yourself. Mediation is a process in which both sides work together to obtain an outcome that is mutually beneficial. By collaborating with a business partner or investor, you can generally resolve a problem without having to worry about any lingering hard feelings. Even if you agree to terminate a relationship with a business partner, there is still a good chance that it can be done in an amicable fashion.
Mediation may be less expensive
Mediation tends to cost less than litigation because the mediation process generally takes less time to complete. Therefore, you won’t incur court costs over a period of several months or years, and you may also minimize any legal fees related to resolving your business disputes. It may also be important to consider how much revenue your company may lose during a dispute as a disagreement may make it harder to run the company in an efficient or effective manner.
Resolving a business dispute may involve rewriting a contract or making other concessions. In some cases, you may be entitled to any costs that you incurred resolving the matter with the help of a mediator. Other damages may be available depending on the facts of your case.