Cost-Effectiveness of Mediation - Ken Strongman, Esq.

The Cost-Effectiveness of Commercial Mediation

Mediation is a form of alternative dispute resolution that allows parties to resolve disputes without the need for litigation. It is a voluntary process that is facilitated by a neutral third party, known as a mediator. Commercial mediation is a form of mediation that is used to resolve disputes in the business world. It has become increasingly popular in recent years due to its cost-effectiveness compared to traditional litigation.

Cost

The cost of litigation can be prohibitively high for many businesses. In addition to the financial costs, litigation can also be time-consuming and emotionally draining. Commercial mediation offers a more cost-effective solution for businesses looking to resolve disputes. The cost of mediation is typically much lower than the cost of litigation, and the process is generally much quicker. This can be particularly beneficial for small businesses that may not have the financial resources to pursue a lengthy legal battle.

Control

Another advantage of commercial mediation is that it allows parties to maintain control over the outcome of the dispute. In traditional litigation, a judge or jury ultimately decides the outcome. In mediation, the parties work together to reach a mutually acceptable solution. This can result in a more satisfactory outcome for both parties, as they are able to tailor the solution to their specific needs and interests.

Confidentiality

In addition to cost-effectiveness and control over the outcome, commercial mediation also offers confidentiality. The mediation process is private and confidential, which can be particularly important for businesses that value their reputation. Litigation, on the other hand, is a public process that can result in negative publicity for the parties involved.

In conclusion, commercial mediation is a cost-effective alternative to traditional litigation that offers many benefits to businesses. It allows parties to maintain control over the outcome of the dispute, offers confidentiality, and is generally much quicker and less expensive than litigation. As such, it is becoming an increasingly popular option for businesses looking to resolve disputes in a more efficient and cost-effective manner.

For an experienced Mediator to help negotiate a resolution to your commercial dispute contact Ken Strongman. Here.

About the Author: As a professional Mediator and Arbitrator since 2004 Ken Strongman has years of experience and has successfully resolved disputes in the fields of Business/Commercial, Securities, Estates/Probate/Trusts, Real Estate, Intellectual Property, Construction Defects, Construction Contracts, Employment, and Environment. He is also a Mediator and Arbitrator for FINRA.