What is the difference between arbitration and litigation?

In Mississippi, arbitration and litigation are two different legal processes used to resolve business disputes. The primary difference between the two is the parties involved in the dispute. In arbitration, the parties voluntarily submit their dispute to a neutral third party. The third party, known as an arbitrator, is responsible for hearing both parties’ claims and deciding the outcome of the dispute. The arbitrator’s decision is binding, and the parties must abide by it. In contrast, litigation involves both parties going to court, and is based on evidence presented before a judge or jury. The judge or jury is responsible for deciding the outcome of the dispute. Another key difference between arbitration and litigation is the privacy of the proceedings. As arbitration is typically done outside of the court system, the proceedings are usually kept confidential. This can be beneficial to businesses that want to keep sensitive information out of the public record. Litigation, on the other hand, is conducted in a court of law and most proceedings are open to the public. Finally, arbitration and litigation take different amounts of time to reach a resolution. Arbitration tends to move more quickly since parties can set the schedule and hear witnesses in an expedited manner. Litigation can take several months or longer, depending on the complexity of the case and the court’s calendar.

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What is the difference between arbitration and litigation?

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