Business Law Essay Example | Topics and Well Written Essays - 500 words - 18

Business Law - Essay Example Two main approaches involved in negotiation are adversarial negotiation as well as problem solving approach. In adversarial approach, the warring parties seek solution through negotiation with a motive of maximizing own gain whereas in problem solving approach, joint gain is sought by parties involved. Though the method is discussed as an independent tool for solving disputes, it is often used before adoption of formal method(s) to solve a dispute and is such a case, negotiation is not perceived as an alternate to litigation processes. In mediation, unlike the case with negotiation, a neutral person is a characteristic feature and is involved in facilitation of communication between the parties while at the same time offering suggestions to possible ways of solving the dispute at hand. As an expertise, the neutral person chosen (mediator) is often chosen by the consent of the warring parties. The main feature of the process is having the mediator assist each side listen to the other in a dispute. Persuasion is a mandatory character for the mediator in order to have the deliberation on the various solutions sighted and the process is concluded after the parties involved unanimously accept a solution after which the decision is put into writing and signed into by all the parties. Collective bargaining issues are main examples to disputes which adopt mediation as a tool for solution where the conflicting parties (like employees) must work together even after the dispute. It is to be noted that though mediation is ado pted as an alternative to litigation, the main reason for its adoption is usually to avoid court procedures. This tool of solving disputes is explained by the use of a neutral third party and outside of court system to find a solution to a dispute. It has a distinguishing feature in that parties involved in arbitration are in contracts and