Rifkind Patrick LLC

Chicago
Business Lawyers

Take Action Today 312.313.0234
  • Overview
  • Attorneys
  • Practice Areas
  • Blog
  • Consultation
  • Contact Us
  • Call Today
  • Email Us
  • Our Map
  • Menu
Business Law

Chances of Settling Without a Trial

Blog 2016 January Chances of Settling Without a Trial
Previous Post  |  Next Post

Chances of Settling Without a Trial

Posted By Rifkind Patrick LLC || 5-Jan-2016

The majority of legal claims arising from business disputes do not reach a courtroom. That is because there are other options available that are less expensive than filing a lawsuit and going to trial, namely Alternative Dispute Resolution or ADR.

ADR refers to a series of methods used by parties to resolve their legal disputes outside of court.

Generally, people choose ADR over a formal court trial because they are less time-consuming and more cost effective, which therefore makes them a favorable alternative to individuals and entities who are engaged in legal disputes.

Methods of ADR include:

  • Arbitration
  • Mediation
  • Private Judge
  • Pre-trial Settlement Conference

In Illinois, the two most common methods of ADR are arbitration and mediation.

Arbitration is a process where an arbitrator (a neutral third party), or an arbitration panel, considers the arguments and facts presented by both parties. Though arbitration is not as formal as a trial, there are procedures that are followed, and the arbitrator’s decision is usually binding.

Mediation also involves an impartial third party, however, this method is more flexible. The confidential process is informal, non-adversarial and non-binding.

With mediation, the mediator does not render a decision, nor do they make a finding of fault or liability. Rather, he or she helps guide the parties to a resolution and helps them explore their settlement options.

Why choose ADR over litigation?

Sometimes the reasons for choosing arbitration or mediation are cost-related or because of the need to preserve a business relationship. While mediation can be completed in one or two sessions, some parties will proceed to arbitration or litigation if the dispute failed to resolve.

Arbitration is similar to a trial, except there is no judge or jury and the hearing is conducted in private. Since this procedure is simpler, faster, and more cost-effective than a court trial, it’s an attractive alternative.

What are the chances that your case will be settled out of court? Relatively high, however, without knowing the facts we cannot give a definitive answer. We will need to review the merits of the case before we can determine whether your dispute would be better served by ADR or litigation.

Contact Rifkind Patrick LLC to schedule a free consultation with a Chicago business law attorney.

Categories: Alternative Dispute Resolution, Arbitration, Mediation, Settlement

Share Post

Practice Areas

How Can We Help You?

  • Business Law
  • Commercial Transactions
  • Startups
  • Contracts
  • Construction
  • Home
  • Site Map
  • Privacy Policy
  • Contact Us
Rifkind Patrick LLC

Call Today (312) 313-0234

Rifkind Patrick LLC - Chicago Business Lawyers
3025 N Lincoln Ave, Unit 1, Chicago, IL 60657 View Map
Main (312) 313-0234
Website: https://www.rifkindpatrick.com/
© 2023 All Rights Reserved.
Internet Marketing Experts