Taking complex business disputes to trial can be quite a gamble. Such cases may be resolved in a variety of ways, depending on the judge and the members of the jury. Rather than risking an unfavorable ruling, many attorneys have turned to mediation to settle complex business disputes.
Understanding how to mediate complex business disputes in Florida is essential to a successful session. Keeping a few points in mind as you prepare for mediation will increase your odds of settlement.
First, you should be very careful in selecting a mediator. Although you and opposing counsel must agree on a mediator, you should at least be able to agree that the mediator needs a significant amount of experience in both mediation and complex business disputes, e.g., how extensive was the mediator’s law practice and has he or she mediated dozens of business cases? The mediator is a major factor in whether settlement is reached or not, so do not take this decision lightly.
It is also beneficial to have your case experts attend for mediation, at least be available by phone. These experts can weigh in on issues involving accounting, valuation, damages and other such issues. By having these individuals present, you will ensure that your client receives the best settlement possible because these experts have provided advice on complex topics that you may not have advanced knowledge in.
One of the greatest advantages of mediation is that it allows the parties to be as creative as they like when crafting a settlement. This is especially beneficial in complex cases where a judge may feel limited in the remedies he or she can offer the parties in a ruling. Therefore, seek advice from your colleagues and discuss the case with your expert witnesses several times prior to mediation so that you have several possibilities for settlement in mind.