Georgia business owners understand that disputes happen. They can happen at any time to anyone. They can happen for any reason. Avoiding disputes is not always possible or realistic. The important thing is how you handle your disputes.
Today, we will discuss mediation as a form of dispute resolution. Mediation is often crucial to the continued success of business. How and why? We will answer these questions today.
Relying on mediation as a tool to save your business
Harvard Law School talks about the importance of mediation as dispute resolution. First, what is mediation? It is the use of a neutral party to help two or more parties come to an agreement. Nothing done in mediation is legally binding. But after successful mediation, you should have reached an agreeable conclusion. You will walk out with your agreement in writing. From there, it is up to everyone to uphold their part. If they fail to do this, then you can turn to litigation and more aggressive tactics.
The importance of business connections
Why should you go for mediation first, then? Because connections are the core of a business. You cannot exist as a successful business entity without connections. This includes connections to customers, to manufacturers and to other companies. If you lose a connection, you have no idea what the long-term repercussions are. One lost connection could end up costing you a lot of money or customer loyalty.
Mediation is a way to help you and your business partners avoid this. It helps you both avoid the struggles of a legal battle. On top of that, you may walk out of the disagreement with your connections.