When a business dispute arises between your Las Vegas company and another party, you may believe you have no choice but to involve the legal system. However, seeking assistance to resolve the issue does not necessarily mean heading to court. We at the Aldrich Law Firm, Ltd., often provide advice to business owners who are unsure of the best means of resolving commercial disputes.
The American Bar Association explains that you should not assume that either arbitration or litigation is your best option without doing some research. Your case is unique, and that means you cannot base your choice on a generic list of factors. Some believe that arbitration saves time and money, but this is not always true. Therefore, you must use other determinations in weighing your decision.
If you are facing an international dispute, arbitration may be preferable because of the potential issues that may arise from dealing with a legal system from another country. Not only that, the discovery process may not take as long because the International Bar Association limits the time available for requesting documents.
In a domestic dispute, the pre-trial discovery can slow down your ability to reach a resolution whether you choose litigation or arbitration. However, litigation may take longer if your case must be heard in a jurisdiction that currently has a full docket. Arbitration may allow more flexibility to accommodate your schedule.
Other factors to evaluate include your opinions on the competence of the people who may serve as your arbitrator. For example, a timid arbitrator or one who places too much emphasis on compromise may negatively affect the outcome of your case. You may want to choose litigation to ensure that the law is applied correctly in reaching the resolution or to make an appeal easier. More information about business disputes and the appeals process is available on our web page.