Litigation is expensive and time-consuming. For those reasons and others, business owners are increasingly relying on arbitration and mediation to settle disputes. Both options often prove to be less expensive and less time-consuming, and can result in fair terms that both parties can accept.
Arbitration involves two parties presenting evidence before a neutral third party or panel. Mediation involves having the third party take on more of an active role in facilitating communication and compromises between the two arguing parties.