Mediation? Arbitration?
{4:12 minutes to read} When arbitration first became popular, it was seen as an antidote to the time and expense of litigation. Parties could bypass the lengthy court process, narrow the issues, limit discovery, and hire experts to decide disputes. Arbitration also kept disputes private, making it less likely the terms of a settlement or adverse decision would become public.
However, over the past 10 years, arbitration has begun to lose some of its luster for several reasons. Most well-known are the compulsory arbitration clauses found in consumer contracts (e.g., “Click here if you agree with the terms and conditions…”) that are often seen as unfairly favoring parties with greater economic power and limiting the ability to redress legitimate grievances.