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How Is Arbitration Preferable to Litigation, and What Are Criticisms

question 67

Essay

How is arbitration preferable to litigation, and what are criticisms of arbitration as compared to litigation?


Definitions:

Criminal Penalties

Sanctions or punishments imposed by law for the commission of criminal offenses, including fines and imprisonment.

Royalty Fee

A payment made for the right to use another party's intellectual property, such as a copyright, trademark, or patent, on a recurring basis.

Patent

An exclusive right granted for an invention, allowing the patent holder to exclude others from making, using, or selling the invention for a certain period.

Brewing Company

A business that manufactures and sells beer, often incorporating distinct styles and flavors.

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