The Decision: Litigation or Arbitration?
Before you make it to the courtroom or file the lawsuit, you have a choice. Either you can go through with litigation and argue your case in front of a judge or jury, or you can try an alternative dispute resolution, usually arbitration. Litigation can be costly and time consuming. Sometimes cases take months to hear in a courtroom. Also, attorneys have to spend hours upon hours gathering evidence in for a litigation case, which makes the attorney fees you have to pay skyrocket.
Arbitration, where each party gives consent and power to an arbitrator, who has power to create a binding decision, is usually quicker and less expensive than litigation. Each party meets, and it is up to the arbitrator to be fair and listen to both sides of the story. Once each party has agreed on an arbitrator, their case can be heard immediately. Also, the clients do not have to spend as much money on attorney fees since attorneys do not have to spend as much time gathering formal evidence. However, there are some drawbacks. In litigation, if the case doesn’t go your way, you can appeal it, whereas you may not have that option if you choose arbitration. Everyone’s case is unique, and certain cases require litigation, whereas others could use arbitration.
