Discussion question
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Litigation and Alternative Methods of Dispute Resolution
1. Traditionally, in the United States, legal disputes have been resolved by businesses through litigation in the courts.  Over the last 30 years, alternative methods of dispute resolution such as negotiation, mediation and arbitration, for example, have become extremely popular with American businesses as alternatives to resolving legal disputes through litigation in the courts. 
(i) Define litigation, mediation and arbitration.
(ii) Compare and contrast mediation and arbitration with litigation.  What are the advantages and disadvantages of each method of dispute resolution?
(iii) How can businesses reduce legal risk in resolving business disputes?