Businesses can handle legal disputes through various means:
Litigation Litigation involves taking the dispute to court. While it can be time-consuming and expensive, it provides a formal resolution through the legal system.
Arbitration Arbitration is a form of alternative dispute resolution where an arbitrator makes binding decisions. It is often faster and less costly than litigation.
Mediation Mediation involves a neutral third party who facilitates negotiation between disputing parties to reach a mutually acceptable solution. It is a non-binding process focused on collaboration.