5 Ways To Use Arbitration That Won’t Cost You CustomersNovember 10, 2015 – In The News
Scott L. Vernick was quoted in the Inc. article, “5 Ways To Use Arbitration That Won't Cost You Customers.” Full text can be found in the November 10, 2015, issue, but a synopsis is below.
Many tech companies, both startups and more established firms, require customers to consent to arbitration as a condition for using their products and services.
Businesses, tech or otherwise, continue to trend toward using private mediation to settle disputes as opposed to taking disputes to court, but consequences are not always beneficial.
Before jumping on the arbitration bandwagon, there are many things to consider.
While it may be true that arbitration is less time consuming and costly than taking matters to court, where busy courts and procedural maneuvering can cause cases to stretch on for years, that is not always what occurs, said Scott Vernick, a noted privacy attorney.
By the time you’ve chosen an arbitrator, prepared the case and argued it with arbitration lawyers – who also charge by the hour – there may be no difference, Vernick says.
Vernick also cautions to make sure you use arbitration for amounts of money you don’t mind losing, because in most cases, you don’t get the right to appeal. If large dollar amounts are at stake, you may want to take the matter to court, where there is greater flexibility.
Click here to view the full article.