Advantages of Arbitration

The video discusses the advantages of arbitration over litigation, highlighting the expertise of arbitrators, the efficiency and cost-effectiveness of the process, the ability to maintain privacy, and the potential to preserve business relationships. Arbitrators are chosen for their knowledge, making the process more reliable than relying on a jury. Arbitration is generally faster and less expensive due to limited discovery rights and lower legal fees. It also allows for privacy, as parties can agree to keep proceedings confidential. Lastly, arbitration is less likely to damage ongoing business relationships compared to litigation.

What is the primary advantage of using an arbitrator in a dispute?

How does arbitration compare to litigation in terms of time and cost?

What are the limitations of discovery rights in arbitration compared to litigation?

In what ways can arbitration maintain privacy for the parties involved?

Why might parties prefer arbitration over litigation when it comes to maintaining relationships?