Examlex
A product is a potentially valuable bundle of benefits.
Mini-trial
A voluntary, private, informal dispute resolution process where parties present their cases to a neutral advisor or a panel, which then offers a non-binding verdict.
Early Neutral
An early intervention in legal disputes where a neutral party attempts to facilitate a resolution before the case progresses to more formal proceedings.
Nonbinding Arbitration
A type of arbitration in which the arbitrator's decision is not legally enforceable, allowing the parties to seek a trial if dissatisfied with the outcome.
Binding Arbitration
An arbitration agreement where the decision made by the arbitration panel is final and legally binding on all parties.
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