What is the difference between business litigation and business arbitration?

Business Litigation and Business Arbitration are two different legal processes for resolving disputes between businesses. Business Litigation involves filing a civil lawsuit in a court of law, in order to settle a disagreement. During litigation, each party presents its evidence and arguments to the court, and the court makes the decision as to who is right and who is wrong. Business Arbitration, on the other hand, is a process in which the parties involved in the dispute agree to have their dispute heard and resolved by an impartial third-party arbitrator. The arbitrator then hears both sides of the dispute and makes a decision. This process is often faster and less expensive than litigation, as it does not involve the formalities of a court trial. In Indiana, businesses may choose to participate in either arbitration or litigation, depending on the circumstances of the dispute. In many cases, businesses will prefer arbitration in order to expedite the dispute resolution process and achieve a cost-effective resolution. However, if the underlying dispute is significantly more complex, litigation may be the better option.

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What is the difference between business litigation and business arbitration?

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