By VERONICA DAGHER- Hiring a mediator can save you thousands of dollars in legal fees—and even more if a judgment goes against you, as a recent Weekend Investor story explained.

Some states require divorcing couples to explore mediation first. Mediation is also an option in some disputes between investors and stockbrokers, an employer and a former employee, business partners parting ways or parties to a commercial contract.

The process isn’t meant to be adversarial. “Win-lose as a bargaining model puts most of the benefits of mediation into a black hole,” says Michele Lowrance, a retired judge in Chicago who works as a mediator with JAMS, an alternative dispute-resolution provider based in Irvine, Calif.

But there are still ways to protect yourself – and even gain an advantage – when entering mediation...

Treat Mediation as a Preview

You can also use a mediation session to give the other side a glimpse of what they might have to contend with if they don’t reach a settlement.

Read more [HERE].