Alternative Dispute Resolution: When, Why, and How to Use Arbitration, Mediation, and Binding Mediation
The use of mediation and arbitration has continued to skyrocket in recent years. Binding mediation also has begun to surface as a viable option. These dispute resolution alternatives, while less than perfect, often provide significant advantages over litigation: Mediation avoids a third party deciding your fate, arbitration can offer a more streamlined and expedited process, and binding mediation can offer many of the advantages of both with only some of the disadvantages of each. A thorough understanding of the advantages and disadvantages of each of these tools — and how and when to use them effectively — is crucial.
Foley hosted an Executive Briefing Series program that outlined how to maximize the benefits and minimize the detriments of mediation, arbitration, and binding mediation by:
Illustrating key differences between mediation, arbitration, binding mediation, and litigation
- Focusing on the advantages and disadvantages of each, and how to know which to choose
- Explaining how to navigate each option from the perspective of the attorneys, the experts, the mediators, and the arbitrators
- Providing practical guidance to help you achieve your dispute resolution goals
These and other issues were addressed in an informal, interactive panel session led by Foley Litigation Partner Russell Beck and Senior Counsel Stephen D. Riden, Eric Van Loon of JAMS, and Peter Resnick of Huron Consulting Group.