The two prior videos delineate why litigation is a long and expensive process. There are a few alternatives to litigation; mainly, mediation and arbitration. Each is distinct from the other and has advantages and disadvantages to each other and litigation. At the end of the day, all practical options to resolve conflict without litigation should be explored, but only after the parties are made aware of the economic and emotional realities of litigation. In this regard, mediation is often a great stepping stone to include in a contract because it allows the parties an opportunity to meet with a neutral person to guide settlement discussions before arbitration or litigation. In contrast, arbitration is typically a litigation substitute, because you put on your case similarly to litigation and one or more arbitrators ultimately decide the outcome.
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