Arbitration vs. Litigation

Arbitrationnoun

The act or process of arbitrating.

Arbitrationnoun

A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.

Arbitrationnoun

In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.

Arbitrationnoun

The hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties.

Arbitrationnoun

(law) the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle disputes between labor and management)

Arbitrationnoun

the act of deciding as an arbiter; giving authoritative judgment;

Arbitrationnoun

the use of an arbitrator to settle a dispute

Arbitration

Arbitration, a form of alternative dispute resolution (ADR), is a way to resolve disputes outside the judiciary courts. The dispute will be decided by one or more persons (the 'arbitrators', 'arbiters' or 'arbitral tribunal'), which renders the 'arbitration award'.

Litigationnoun

(legal) The conduct of a lawsuit.

Litigationnoun

The act or process of litigating; a suit at law; a judicial contest.

Litigationnoun

a legal proceeding in a court; a judicial contest to determine and enforce legal rights