A commercial litigation attorney in Chicago IL can talk to clients before accepting a case to discuss possible alternatives to litigation and the true costs involved with litigation. Arbitration and mediation may be considered. However, a commercial litigation attorney in Chicago IL can explain when arbitration may not be the best option in certain situations and how litigation may be preferred.
Arbitration is sometimes touted as a less expensive alternative to litigation. However, in more recent years the costs of arbitration have increased. Additionally, if large stakes are involved, litigation may be the only practical way to get the results that are desired by a party. Another often-cited advantage of arbitration is the decreased amount of time arbitration takes. However, due to disputes regarding procedures and unfettered discovery, the timing of arbitration may more closely resemble litigation in this regard.
A potential hazard of arbitration is that the neutral decision-maker may not be as neutral as desired. For example, if a business uses a particular arbitrator, it may continue going to the arbitrator if it likes results. However, if the arbitrator rules against the business, the business may go in a new direction the next time around. This can create an incentive for an arbitrator to continue giving the business the results it wants as a detriment to the other party.