Business disputes are often no walk in the park. Dealing with them is a difficult burden that no business owner wants to handle.
However, it is possible to handle disputes without turning to litigation, at least. Mediation offers one such alternative.
FINRA discusses some of the key points of both arbitration and mediation. Mediation differs from arbitration in that a mediator lacks the same power that arbitrators do, which is closer to the legal capabilities of a judge.
A mediator cannot make decisions for arguing parties. They can only help guide these parties toward a resolution that everyone can agree on.
The skills of a mediator
However, in order to reach that goal, they do have a number of useful skills. For one, they can reduce conflict and friction with their de-escalation training and techniques. They manage arguments and keep them from bubbling over and getting to the point where they interfere with negotiations.
They ensure that everyone has the space to speak equally and keep any one party from taking over a conversation, too.
They also offer unique opinions from their third-party perspective. They have an emotional division from the problem at hand, which allows them to give unbiased advice that no one else involved in the dispute can offer.
Together, these skills allow a group to work toward a resolution that everyone can agree on, even if they have to make some compromises along the way. This makes mediation a valuable potential option to consider when dealing with a business dispute.