Mediation in Business
Mediation is a process of resolving business disputes which is becoming increasingly popular. Mediation in business is a time-saving and money-saving alternative to litigation, which has proven highly effective in reaching a resolution in all manner of disputes, large and small.
If your business is willing to enter mediation with another business, you first need to jointly agree upon and appoint a mediator. This is the person who will facilitate the discussion and help both sides attempt to reach agreement. Contacting us at Regan Solicitors is a wise move.
Why Choose Regan Solicitors for Mediation in Business?
- Our principal, Mark Regan, is a fully-trained mediation specialist with CEDR (Centre for Effective Dispute Resolution).
- Mark Regan’s skills and knowledge regarding mediation in business are such that he also regularly gives lectures on the topic for The Law Society.
- We promise a speedy response when you first contact us regarding mediation in business.
- We have vast experience of mediation in business disputes, ranging from relatively small disputes between private clients to major commercial mediations involving a large number of parties and multiple mediators.
The Mediation in Business Process
A typical process for mediation in business is as follows:
- The mediator welcomes the parties involved, and explains any ground rules that have been agreed.
- The mediator then asks for statements for each party. The mediator may ask clarifying questions, but usually the parties do not question each other.
- After all parties have spoken, the mediator may ask further questions, to elicit extra information or to clear up any possible misunderstandings or ambiguous statements.
- If represented by more than one person each, the parties in the dispute may then be asked to consider the matter separately from each other. The mediator may go back and forth between the parties during this time. It is important to note that no information is shared by the mediator at this time unless explicit consent has been given for it to be shared. Likewise, the mediator does not suggest any resolution. However, he/she may give some guidance on how one can be reached.
- After due consideration, the parties come together again with a view to reaching agreement. The mediator can help them agree the exact terms of resolution, and those terms are then documented.
Benefits of Mediation in Business
The benefit of mediation in business are many. They include:
- Saves time – Rather than taking a year or more to get a court date, mediation can be arranged at a much sooner date to suit all parties involved, and is generally concluded within a day.
- Saves money – Mediation in business allows the parties in dispute to avoid the considerable costs associated with litigation.
- Mutually satisfactory outcomes – Parties are generally more satisfied with an outcome they have helped form themselves, rather than having it imposed on them by a third party such as a judge in a courtroom.
- High rate of compliance – Likewise, parties are more likely to comply with an agreement they have helped to formulate themselves.
- Helps to preserve business relationships – Mediation can help to preserve any ongoing business relationship between the parties, as it is far less fractious than full litigation, and far less likely to sour the relationship in the longer term.
Appoint Regan Solicitors to oversee your Mediation in Business
We have a very high success rate in Mediation in Business, and we have enabled parties to agree settlements which would not have been possible in litigation. To talk further about how we can provide for your mediations, Please contact us on 01 6874100 or fill out our contact form and we will be in touch shortly.