Modern Counsel for Growing Companies
In plain English
A facilitated negotiation in which a neutral mediator helps parties seek a voluntary resolution. The mediator generally does not decide the dispute or impose an outcome. A resulting settlement becomes binding through the parties' agreement and applicable legal requirements, rather than merely because mediation occurred.
Types and key distinctions
Dispute Resolution
The contractual or legal process used to address disagreements. It can include negotiation, mediation, arbitration, or court proceedings, with different consequences for cost, privacy, timing, and review. A well-drafted provision identifies which disputes it covers and how the selected process is initiated.