Disputes are inevitable—but they don’t have to be completely disruptive. That was the focus of the recent webinar, entitled “What is ADR and How Can It Help Your Business Resolve Disputes Quickly and Effectively,” moderated by Katherine Gloede, Regional Vice President for the American Arbitration Association® (AAA®). The webinar was a part two of a three-part dispute resolution webinar series in partnership with the Small Business Association of Michigan (SBAM) as part of AAA’s Small Business and Entrepreneur Initiative. The webinar had a spotlight on mediation and featured esteemed Michigan AAA Panelist, Tom Cranmer.
What Is Mediation?
Mediation is a voluntary and confidential process in which a neutral third party—referred to as the mediator—helps disputing parties negotiate a mutually acceptable resolution. Typically, the third-party neutral is not the same person who would ultimately render a decision if the parties proceeded to litigation. Unlike litigation, mediation is collaborative rather than adversarial, focusing on finding solutions that work for both sides. This approach often leads to faster and less costly outcomes.
Key Benefits of Mediation
1. Confidentiality: Mediation typically occurs in a private setting, ensuring that sensitive business information remains protected. This is important because confidentiality fosters open dialogue and encourages parties to be candid about the strengths and weaknesses of their case, which can help lead to resolution.
2. Preserving Relationships: Traditional litigation can be adversarial and can put a large strain on relationships. Mediation emphasizes collaboration, which can help parties maintain their relationships.
3. Efficiency: Mediation is generally much quicker than litigation, offering significant savings in time, money and resources, particularly when initiated early in the dispute.
4. Empowerment: Mediation gives parties control over the outcome. Unlike a court ruling, which imposes a decision, mediation allows parties to shape solutions that meet their unique needs.
Why Dispute Resolution Matters for Small Businesses
Mediation provides a streamlined, cost-effective way to address disputes without derailing operations. Mediation offers a path forward that protects business owners’ time, resources, and importantly—reputation.
Continuing the Conversation
As we discussed in the webinar, by integrating AAA mediation and arbitration clauses into your contracts, businesses can stay focused on what they do best: growing and innovating. If you missed this webinar or any others in this series, you can access them through SBAM’s educational resources.
Let’s continue building stronger businesses, one resolved dispute at a time. Did you miss the webinar or want to review the content? Scroll down to watch the recording!