Mediation:

Mediation is the process by which a neutral third party meets with both parties in the conflict to negotiate a final solution between the them.   The mediator does not impose a solution they facilitate the negotation that leads to the solution between the parties.

The process is private, confidential and legally binding.

Mediation is non-binding to the parties involved unless both parties request specificaly request binding mediation.  Hence, if any party is not satisfied with the conclusion they could still pursue the case in court.  If both parties agree to make their mediation binding, a judge must sign the mediation agreement settlement.

Participants in a mediation can withdraw at any time in the process.

Mediation is cheaper than hiring a lawyer.  The mediator only gets paid by the hour but both parties to the conflict pays for half of the cost.  Thus you only pay for 50 percent of the cost.  This is cheaper than hiring a lawyer who gets paid by the hour at a higher rate to prepare adn argue your case before a judge.

Mediators specialize in specific areas.  For example, real estate, workers compensation, labor management, harassment, discrimination, partnerships, etc.  When searching for a mediator find the one that specializes in the area of dispute.