Mediation and arbitration can be effective legal tools for conflict resolution. But many business leaders lack a comprehensive understanding of what it means to include these clauses in their contracts.
“Mediation is set up to reach a settlement between two fighting parties, so a mandatory mediation clause in a contract means that before one person sues another or takes some kind of legal action, you first have to talk to a professional mediator and see if you can resolve the dispute,” says Josh Stump, attorney, shareholder and president at Buckley Law P.C. in this podcast. “Arbitration is actually more like a condensed trial in front of a private arbitrator who will make a decision in the case.”
The Buckley Law civil litigation attorneys have over 100 years combined experience resolving business disputes out of court and are equally capable of successfully representing your interests in court. Learn more.