I recently returned from a conference put on by the American Bar Association Dispute Resolution Division. The entire conference was dedicated to ADR and the current trends in mediation, collaborative law, and arbitration.
I had the opportunity to attend various seminars which focussed on ADR and its impact on a variety of areas such as medical errors, insurance underwriting, and helping clients be better negotiators.
ADR often offers a more cost effective alternative to resolving a dispute when compared to traditional adversarial proceedings. What struck me as I attended the different sessions was the data that indicates that settlements reached through ADR often cost businesses less than what was experienced by companies prior to them engaging in ADR processes.
While additional research needs to be done, there is evidence that companies that take a proactive, ADR styled approach to dispute resolution may see their settlement costs decrease. These savings may be in addition to the money saved by pursuing ADR as opposed to traditional adversarial proceedings.
To find out how mediation and collaborative law may be able to help your organization, contact our office today.