Business Law- The Advantages of Alternative Dispute Resolution (ADR) To a Closely Held Business

• Friday, September 13, 2013
• Category: Business & Corporate Law, Business Litigation

The Law Firm of Pozzuolo Rodden, P.C., Philadelphia BusinessLawyers, announces the release of the article “The Advantages of Alternative Dispute Resolution (ADR) To a Closely Held Business”.

In recent years, alternative dispute resolution (“ADR”) has become the buzz words for business disputes. ADR generally means providing a solution to a dispute other than through the traditionally federal, state or county instituted court systems. There are generally two types of ADR: 1) mediation; and, 2) arbitration. Normally mediation is a nonbinding, informal proceeding to facilitate the parties to resolve their dispute independent of a binding judicial determination. Arbitration, on the other hand, is a contractual arrangement where parties decide to be bound by the decision of a third party (ies) in a non-governmentally instituted court proceeding. Mediation may facilitate a resolution, but does not require one, whereas arbitration is generally a more cost effective binding judicial solution outside of the traditional court system.

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