Saturday, November 27, 2021

How Much Money Does Mediation Save Companies? - Mediate.com

Last updated Monday, October 18, 2021 16:34 ET , Source: NewsService

by John Peterson

By turning their faces from the legal system, many companies have saved fortunes in the money and time that legal proceedings require. Instead of litigation, many companies are turning to mediation, and they have been able to resolve their issues within a few weeks instead of the months and years that it may take to address the same issues in court.

Companies are also taking the step to bring in mediators to resolve problems between employees before it escalates. These mediators are also training managers to play the role of mediators when handling internet disputes in the company.

The truth is that half of the cases that go to court can be solved far sooner, more efficiently, and cheaper through mediation, which companies have come to realize. As the value of mediation rises among companies, there are far lesser needs to go to court.

An example is in the case of business partners looking to go their separate ways. Rather than fight about the business assets and drag themselves to court, they decided to use the services of a mediator to create an exit strategy for them. The entire process cost them a mere $10,000 and involved six sessions over eight weeks. They found mediation not just to be 80% cheaper than litigation, but it is also private and fast. Both parties got the exit cheaply, quickly, and amicably in a win-win situation through a mediator.

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Read Full Story: https://www.mediate.com/articles/peterson-money-mediation-saves.cfm

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