There are plenty of times when one business in Concord, Danville, San Jose, San Francisco, Palo Alto, Fresno, CA, and the surrounding areas needs the services of another business, or they enter into an agreement of some kind and then things go south. The immediate reaction of many is to sue. At Sugarman & Company LLP, we think entering into business mediation is a much better option for all parties involved. The goal of business mediation is to come to a mutual agreement that is also legally binding on all parties. There are many positives to entering into business mediation, including that the mediation is usually a lot less than when lawyers get involved, and that the privacy of the agreement is maintained and not leaked to the public. If you find yourself in an untenable situation with another business, contact our team to get started with business mediation.
Typical Steps in Business Mediation
Once both parties have agreed to business mediation and agreed on the mediator, then there are a few steps that are fairly typical of the process. First, both parties to the disagreement prepare a summary of the issue(s) from their perspective. Then, all parties and the mediator come to a joint session where all parties express their views on the issue, and they can also explore potential solutions. The mediator may also have questions for further clarification.
The third step may or may not need to happen, but the mediator may meet with each party separately to better understand their concerns and interests. Finally, solutions are discussed, and a final agreement is reached. The mediator will then draft a legally binding settlement agreement for the parties to sign and be bound to.
Several Positives with Business Mediation
When you consider the cost of hiring an attorney, plus the amount of time that they will take in preparation for the court case, plus the costs of the court, and just the time involved, settling issues with business mediation is far more efficient. Additionally, confidentiality is maintained with the agreement, and in many cases the relationship between the parties is also maintained, with better communication and understanding.
Business mediation is an overall better way to settle issues between businesses in Concord, Danville, San Jose, San Francisco, Palo Alto, Fresno, CA, and the surrounding areas than going to court and spending a lot more money. Sugarman & Company LLP has several decades of experience in working through business mediations and drafting workable agreements that benefit all parties. When you find that you are not getting the right results with your agreement with another business, contact our team to start a business mediation.