Many business owners have heard the benefits of cost and time savings touted as a reason to participate in business mediation in Chicago Illinois. However, there are many other benefits of business mediation in Chicago Illinois that are worth considering, including:
Business mediation puts the parties in a room together with a professional trained in positive communication. The mediator establishes ground rules of respect and gives each party the opportunity to express their side of the issue. This often results in the parties hearing important information and understanding another perspective in a way that had not occurred previously.
Because mediation is premised on the idea that the parties can work through their own problem and the fact that mediation is a collaborative process, many business owners are able to preserve their relationship with the parties with whom they share the mediation. With litigation, the parties are entrenched in an adversarial process in which they become enemies of a sort, which often makes it difficult for them to continue any type of positive relationship.
Restructured Business Deals
Creative solutions are a key to mediation’s success. Many times businesses are able to come up with solutions that keep them in business together. They may be able to modify an existing contract so that it better suits their needs after an unanticipated change. Part of their mediation agreement may lead to a licensing agreement, independent contractor agreement or other type of business agreement that extends the relationship.