Many a times we face issues that we cannot solve without getting into a tiff with our business partners. There are situations that cannot be decided in black and white decisions. Often the situations do not have a clear solution. These are the times when business partners try to get the most benefits, be it fair or not. In such situations it is good to hire a mediator to take a fair and sensible decision which is beneficial for both the parties.
A lot of domestic properties are left the way it is, in order to keep a peaceful relationship among the parties involved. But in the corporate world, this is not an option. There has to be mediation, or there will be litigation, and nobody quite wants to resort to the latter.
In the corporate field, mediation is often used to decide the fate of liquidity and of unclaimed grounds in the property. Sometimes mediation is also done to decide the fate of shared property. What we need to remember here is, mediation does not decides the fate of the case, that it only helps the parties to decide the fate of the case.
In family issues, mediation is used for many fields, like divorce, separation, custody of the child, and financial shares. Both, corporate mediation and domestic mediation can be equally difficult. Just because the domestic arena has people who have a personal connection, or have had so in the past, does not mean that the parties will be willing to cooperate with each other. After all, a third party mediator was hired at all because the parties could not resolve issues on their own.
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Similarly, in the corporate world, people do not want to cooperate with each other, because it is not every day that one gets the chance to use the benefit of doubt to succeed to a great extent. However, what people have to keep in mind in the corporate world is that, the business relationship is not getting over with the partners. Even if the mediation ends in the selling of a partner’s shares, benefiting both, somewhere down the line these ex-partners become competitors.
The ties in the corporate world are more difficult to snap out of, compared to those of the domestic world. Strange as it is, it is true, and also a driving force for all corporate mediating parties to want to resolve issues staying in good terms with all the other parties.
Mediation enables the corporate parties to get a good look at the complete detailed statistics and files of the case that is undertaken. Sometimes corporate people just call for mediation to get to see what the other party is hiding. With a complete knowledge of what is happening on the other side, both parties know the real situation.
Mediation does help in more than one way, but a lot of truth may come out. Opt for mediation only if you totally have to, say in cases where you just cannot resolve an issue among yourselves without dragging the matter to the court.