and avoids public exposure. If you can get your dispute resolved by mediating you can preserve your reputation.
in mediation you make the decisions and your attorney is the consultant. In litigation it's the other way around.
depends on the parties. If you're willing to meet chances are you can reach an agreement. Instead of taking years it can take days or even hours to resolve.
if you can resolve the issues separating you in mediation you'll be able to continue doing business together. The relationship will outlast the dispute.