In early September, Attorney Douglas Schreiber of Hymes, Schreiber & Walden participated in a legal panel discussion put on by ProVisors regarding Negotiation and Litigation.
The seminar was held as a series of questions thrown out to the legal panel and consisted of discussion on the difference between mediation and arbitration:
Question: Is arbitration, once thought to be a panacea, really better or less expensive than litigation in court?
Answer: Not really-retired judges who serve as arbitrators charge upwards of $10,000 per day, and there are associated administrative costs on top of that. Also, in a typical arbitration, you give up a lot of rights, such as the right to appeal. That means that should an arbitrator make a ruling that is legally wrong, you have no right to challenge that ruling.
Topics that were also discussed included negotiating strategies in mediation.
To learn more about our legal services, please contact our business attorney in Woodland Hills at Hymes, Schreiber & Walden, LLP.
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