The court system is clogged and going through a lawsuit is expensive, stressful and time consuming. That's part of the reason why choosing an alternative dispute resolution is the answer. For the 3 other major reasons that you may have never thought about, see our list below.
What are alternative dispute resolutions and why are they the answer?
Choosing an alternative dispute resolution means using a different method other than litigation, such as mediation and arbitration, to solve a dispute.
What are the benefits of this method? These are 3 benefits or reasons choosing an alternative dispute resolution is smart:
- There are more options.
Rather than choosing the more involved process of litigation, look into all the different types of alternative dispute resolution. Chances are there is an option that fits your business and problem. Some of the most common types are mediation, arbitration, mini-trials, conciliation, neutral evaluation, and settlement conferences. Find the option that works for your business.
- Typically a neutral third party mediates.
When a neutral third party is involved, it's as if there's a judge deciding the case, just in a more informal setting. Bringing in a neutral third party instills more confidence because it brings in an outside opinion. One that does not have any stake involved. It takes away tension for the parties involved in the dispute because they know that the decision may be more fair and unbiased.
- The privacy in alternative dispute resolutions is invaluable.
Litigation opens parties up to the public eye. Whereas, using mediation or arbitration keeps disputes more private and hidden. This is invaluable when your reputation is on the line. It's extremely important for small businesses who have a lot to lose if their reputation is tarnished from litigation.
For more information about alternative dispute resolutions, send us a message.