Arbitration/LitigationDisagreements are as inevitable in business situations as they are in any situation in which people are involved. Most business conflicts can be handled privately between the parties involved. Some require more serious measures. When a severe business dispute arises, there are generally two options that lead toward a successful resolution: arbitration or litigation. Both of these formal procedures require the assistance of an experienced business lawyer.
Arbitration Versus Litigation in Business LawAlthough arbitration and litigation have the same goal—to resolve the business dispute—they are very different processes. While arbitration is an informal, private process, usually overseen by a retired judge or an attorney, it is mandatory to have a firm grasp of applicable law and to persuasively apply the facts to obtain a good result. Litigation, on the other hand, is more formal (in a Courtroom) and requires more technical litigation skills (objections, cross-examination, expert witness examination, etc.) to achieve a good result.
In both arbitration and litigation, a third party is designated to make the final decisions regarding the outcome of the business dispute at hand. In arbitration, this is an appointed individual who has no personal interest in the dispute. In litigation, this person is a judge or a jury.
Arbitration is sometimes a more efficient and faster process that litigation. While costs can still be significant, Arbitration is somewhat streamlined. Litigation, on the other hand, usually takes many months, or even years, and usually involves more procedure (filing motions, amended pleadings, written discovery, depositions, hiring of expert witnesses, ect.). Consequently, litigation can become very expensive and must be taken into your analysis when making legal decisions. Our attorneys understand both the cost and your desired result, and pride themselves on being honest about cost and seeking to achieve your desired result with you spending as little money as possible under the circumstances.