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Today's Terms
Arbitration
Definition:
Process in which a neutral third party (arbitrator) hears arguments from disputants, then issues a decision. Whether court-annexed or private, this process tends to be more formal and judicial than other ADR processes, but less formal than a court procedure.
Consensus
Definition:
method of seeking the resolution of a multiple-party conflict or dispute, relying upon equal participation of all parties. The end goal is to develop an agreement, usually without voting, that all of the participants can live with.
Alternative (or Appropriate) Dispute Resolution (ADR)
Definition:
Used narrowly to refer to a set of alternatives to litigation including mediation, arbitration, and summary jury trials. Used broadly it refers to all methods which resolve conflicts between parties by a means other than an adversarial or judicial process.
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