A high-net-worth business owner in New York might encounter any number of legal problems. These issues might occur on a personal level, such as divorce, or in terms of business, such as a breach of contract. While aggressive litigation is sometimes necessary to protect one’s assets, there are many issues that can be resolved through mediation.
Mediation is a form of alternative dispute resolution that enables business owners to resolve issues without going to court. This can save them time and money. Mediation makes it possible to streamline negotiations, which is more efficient than becoming entangled in a contentious court battle that may linger on for months. Parties that agree to resolve their differences through mediation are often committed to avoiding confrontation.
Mediation takes place in a private setting
When a high-powered, wealthy business owner in New York goes to court, it makes headline news, which is not always a good thing, especially if the media portrays the business owner in a negative light. Anything that happens in court is a matter of public record. Mediation, on the other hand, is carried out in a private setting. All discussion sessions are confidential, which may be best, especially if the dispute involves an international party.
An attorney experienced in alternative dispute resolution can provide support throughout the mediation process. Any New York business owner currently considering this legal option may seek guidance by scheduling a consultation. An attorney can review the details of a particular case and determine whether mediation or litigation would have the greatest chance of producing the desired outcome.