Corporate disputes in Milford Connecticut are common between business partners, executives, vendors and contractors. Any business deal can quickly go south. However, corporate disputes in Milford Connecticut do not have to end in contentious litigation. Mediating these disputes can lead to many benefits, including:
Less Expensive
Mediation costs are usually split between the parties. They can often stave off litigation and reduce the number of billable hours for the parties’ respective attorneys. In contrast, litigation tends to be very expensive when considering the lawyer’s legal fees, court costs, discovery costs, administrative costs and potential costs for expert witnesses.
Faster Resolution
In business, time is often money. If two parties are stagnated in a dispute, both of them may be losing money. Mediation provides a much faster forum to work out a solution, rather than the unrealistic timelines mandated by heavy court dockets.
Preserved Relationships
Mediation allows the parties to sit together and work out a solution while relying on the communication techniques employed by the mediator. This approach often helps the parties to preserve their business relationship because they have not become cemented into opposing sides of a courtroom battle, as is often the case with litigation. By focusing on working through a legal problem, the parties can often find common ground and come up with a solution that will benefit them both.
Greater Adherence to the Agreement
While the parties can rely on the court to issue an order, there is no guarantee that the other party will adhere to the court order. This then means that the parties may wind up back in court to enforce the order. When the parties are an integral part of making the order, they are more likely to follow the terms of the agreement that they helped create.