There are a number of methods which are common in helping to assist with dispute resolution. These common methods include mediation, arbitration, and litigation.
Litigation can be extremely costly for all parties involved. Meditation allows a third party to help to assist the disputing parties in resolving the current issue and coming to some form of agreement. There are incurred costs involved for the party who doesn’t win, and they might be liable to pay for the costs of the other parties, which can be costly. Meditation is most suitable when a dispute is in it’s earliest stages. A mediator tries to help the parties to discuss and resolve their issues and tries to help them to come to a mutual agreement. Meditation can be useful in dealing with disputes involving two business partners, disputes arising from conflict between mergers and acquisitions. Disagreements between employees, as well as bullying and discrimination.
Involves a judge who is the 3rd party, who aims to solve the dispute which occurs from the two parties. Arbitration doesn’t involve going to court. The arbitrator allows the parties to discuss their conflicts and then according to the evidence and stories submitted from both sides, the judge will arrive at a final decision.