Dispute Resolution & Commercial Mediation
One of the many consequences of the current economic downturn has been the significant growth in commercial disputes. Such disputes, as well as depleting the financial resources of companies and their principals, are also incredibly stressful. They can potentially affect the ongoing operation, and indeed viability, of a business as time and energies that should be utilised in addressing the immediate problems of the company are being sidetracked into dealing with conflict.
One far less confrontational approach that could go a long way towards resolving many disputes – and safeguarding much needed resources within businesses – is the growing practice of Commercial Mediation. Commercial Mediation is a facilitative and confidential process in which a Mediator assists parties to a dispute to attempt, on a voluntary basis, to reach a mutually acceptable agreement.
Historically commercial dispute resolution in Ireland has been limited to arbitration or legal action. Both of these approaches are similar as both are adversarial based.
Imagine if a shareholder dispute, contract dispute, payment dispute, termination dispute or other commercial dispute could be resolved by calling the parties together and figuring out a way to resolve the matter in a civil manner. Imagine if the solution was one the parties designed and agreed to. Imagine the time saving, cost saving and stress reduction that would result.
The successful mediation of a commercial dispute will lead to such savings and facilitate continued working relations where appropriate. If used in a proper and timely fashion, the commercial mediation process has a high success rate.