In some cases, mediation may be a way to resolve a South Dakota business lawsuit. As any business owner knows, litigation can be expensive and the results uncertain. In light of these risks, a business owner may consider mediation as a way to minimize risk and retain some control over the lawsuit process. Here are four tips to successfully mediate a South Dakota business lawsuit.
Tip #1 - Selecting the Mediator.
Selecting a strong and experienced South Dakota mediator who understands business litigation is a key to a successful mediation. A mediator who recognizes the strengths and weaknesses of each side's arguments can serve as a "reality check" to the parties and their attorneys.
Tip #2 - Timing of Mediation.
A business lawsuit can be mediated at any time - even before a lawsuit is filed. The timing of mediation always depends on the case, the parties, and the complexity of the issues involved.
Tip #3 - Exchange of Information.
One problem with an early mediation is the lack of information. For mediation to be successful, it is important that the parties exchange relevant information before the mediation session. The information required to make an informed settlement analysis varies from case to case.
Tip #4 - Business Representatives.
A successful mediation depends on who participates in the process. The business should send a representative that has the authority to negotiate and ultimately settle the case.
A successful mediation can minimize the risks and expenses of business litigation. By following these four tips, a South Dakota business can make the mediation process more productive and increase the possibility of settlement.