Being involved in any type of business dispute can be difficult. In some cases, the situation can be too complex or contentious to address any way other than through litigation. However, in some scenarios, it may be possible, or even required through business agreements, to go through arbitration instead of litigation.
Arbitration is a dispute resolution method, but it takes place outside of court. Additionally, individual legal counsel does not usually represent each side during proceedings. Instead, an arbitrator, who often is an attorney, hears both sides of the situation. When dealing with arbitration, it is important to note that you cannot appeal any decision made by the arbitrator.
If you are contending with a business dispute and are considering arbitration as a way to handle the conflict, you may understandably want to know why this would be a beneficial method to use. Some useful aspects of this process include the following:
- Arbitration often takes less time than litigation.
- This process could cost less than having to go to court.
- The parties involved have the ability to choose the arbitrator involved in the case.
- The results of an arbitrated case do not go into the public record, ensuring better privacy than litigated cases.
- Attorneys could still help you and your business through arbitration even if one will not represent you during the actual proceedings.
Some companies prefer mandatory arbitration when dealing with business or employment conflicts, and understanding how this process works could help you decide whether including this clause could help you and your company. It could also prove useful in the event that you must head to arbitration in order to handle a dispute with another company. Preparation can almost always help a situation move forward more smoothly and effectively.
Gaining a greater understanding
Before deciding on any type of dispute resolution, it is important that you have reliable and applicable facts about each type. If you are interested in gaining more information on arbitration and how it could affect a conflict you currently face or help you address conflicts in the future, you may want to discuss this subject with a knowledgeable legal professional in Utah. Understanding your resolution options may help ensure that you make the best choices for your company if disputes arise.