What is the difference between business litigation and business arbitration?

Business litigation and business arbitration are two different methods of resolving disputes involving businesses. Business litigation is a formal court-based process that involves two parties with a legal dispute. In a business litigation process, the parties present their case to a judge or jury and the dispute is resolved through a court verdict or settlement. Business litigation is used to settle disputes involving money, contracts, real estate, and other legal issues. Business arbitration, on the other hand, is a less formal, private process. In business arbitration, a third-party arbitrator hears the evidence presented by both sides in a dispute and makes a binding decision, which both parties must follow. Business arbitration is usually quicker, less expensive, and more confidential than business litigation. In South Carolina, business litigation is typically handled in the state’s circuit courts, while business arbitration is usually administered by private dispute resolution organizations like the American Arbitration Association or the International Centre for Dispute Resolution. Business arbitration and business litigation both offer a way to resolve disputes between businesses, but the processes are different. Business litigation is a formal court-based process, while business arbitration is an informal, private process. Each method offers advantages and disadvantages, so it is important to consider which one is the best fit for a particular dispute.

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What is the difference between business litigation and business arbitration?

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