Litigation for corporate disputes in Westport Connecticut can be time consuming and expensive. Because of this, businesses are looking to alternative dispute resolution to assist in their corporate disputes in Westport Connecticut in the hopes that they can save money and time, while also preserving their business relationships where possible.
There are two main types of alternative dispute resolution used by businesses. The first is arbitration. With arbitration, parties to a dispute pick an expert or panel of experts (often certified arbitrators with a member organization) to hear their case outside of court and make a decision based on the evidence presented. Decisions made by arbitrators are generally binding, but can be over turned depending on certain circumstances. Arbitration clauses are often found in business contracts as a way to settle corporate disputes in a swift and less expensive way than through court, and information regarding the matter can often be kept confidential if the parties so desire.
The other main type of alternative dispute resolution is mediation. In mediation, a decision is not made by a third party as would be the case when a matter is litigated through court or goes in front of an arbitrator. Instead, the parties negotiate a settlement to their dispute together with the aid of a mediator, who serves as a neutral third party to facilitate settlement. The parties can decide upon a mediator, or co-mediators, to assist them in resolving their case, and mediation can also be kept confidential.
Both arbitration and mediation are great alternatives to litigating a dispute for corporations and businesses.