Often, when Alabama marriages end, the parties involved choose to undergo mediation, as opposed to traditional litigation, to work through matters relating to their divorce, and increasingly, Alabama business owners are doing the same thing. At Slaten Law, P.C., we recognize that, while business mediation is, of course, markedly different than marriage mediation, both types offer a number of similar benefits that can save you and everyone else involved time, money and stress.
According to the Enterprise Center at Salem State University, business disputes will inevitably arise when you own your own business, but relying on mediation, which is a form of alternative dispute resolution, can offer considerable benefits. One such benefit is financial in nature. Rather than having each opposing side hire and pay for its own lawyer, business mediation allows both parties to, together, finance the shared mediator, who represents an impartial third party who can help you work through your dispute.
While saving money is a major benefit of business mediation, so, too, is the fact that it can, in many cases, allow you to preserve business relationships that might otherwise suffer because of the dispute. Instead of having each party “take a side,” as is the case in more traditional business disputes, mediation allows both sides to focus on mutual interests and arrive at solutions that prioritize them.
A third benefit of business mediation, meanwhile, involves the fact that it gives you the ability to keep things under wraps. While a long, contentious court battle can attract public attention, business mediation gives you an opportunity to work through your dispute in a private, confidential setting. You can learn more about business law services on our webpage.