Alternative Dispute Resolution Is an Option for Illinois Business Disputes

Engaging in business litigation is time-consuming, stressful, and oftentimes, very expensive. While there may be circumstances in which holding a trial is the only feasible option, Naperville businesses can save time and money by avoiding the court process altogether. The large majority of Naperville business disputes end in out-of-court settlements. This is frequently accomplished through a method of Alternative Dispute Resolution (ADR), including arbitration and mediation.

Alternative Dispute Resolution Is an Option for Illinois Business DisputesIn Chicago, mediation is a relatively informal process where a neutral third-party (the mediator) facilitates communication and negotiations between the parties involved in the legal dispute. The chosen mediator must be mutually agreed-upon, and he or she is specifically trained to guide disputing parties to a resolution that’s satisfactory for all involved. However, mediations are non-binding, and there is no guarantee that a mediation will bring about a resolution.

In arbitration, the parties involved in a legal dispute agree to let a third-party decide the outcome of their case, without holding an actual trial. Arbitration can be either voluntary or court-ordered, and there are limits in terms of the value of a claim that can be arbitrated in Illinois. Perhaps most importantly, arbitration is binding, meaning that the parties involved in an arbitration must adhere to the arbitrator’s decision.

Legal disputes can cost Naperville businesses thousands of dollars. Businesses involved in legal disputes should contact a qualified Naperville business litigation attorney to discuss whether or not ADR is a good option for their case.