Arbitration                             ADR (Mediation etc.)                     
          ·          adversarial spirit/procedure ·          co-operative procedure/spirit 
          ·          likely to disrupt your       ·          not (or less) disruptive      
          business relationship                                                            
          ·          gets into the machinery of   ·          remains within the active     
          the legal department which controls the control of the management                
          process                                                                          
          ·          all evidentiary material     ·          only the best materials;      
          submitted (including second-best        concentration on the essence             
          materials)                                                                       
                                                  ·          wants a pragmatic, principled 
          ·          builds up fixed "positions"  and flexible negotiation; aims to bridge 
                                                  the gap                                  
          ·          formal procedure             ·          non legalistic procedure, but 
                                                  carefully structured                     
          ·          joint sessions only          ·          joint sessions and separate   
                                                  caucus sessions                          
          ·          binding mechanism            ·          non-binding mechanism         
          ·          adjudicatory function        ·          advisory function             
          ·          decides                      ·          solves or recommends          
          ·          the rule of law governs      ·          commercial perspectives       
                                                  prevail                                  
          ·          determines issues that had   ·          looks not only backwards, but 
          arisen in the past                      also (and essentially) to the future     
                                                  ·          the mediator can assist the   
          ·          the arbitrator can hardly be parties "to enlarge the cake," thus to   
          "creative"                              develop a creative and mutually          
                                                  advantageous business solution           
          ·          goal: to win (the process is ·          goal: to solve the dispute on 
          "rights driven" and problem-oriented)   an acceptable basis ( the process is     
                                                  "interest driven" and result-oriented    
          ·          takes a lot of time          ·          speedy                        
                 • expensive                             • more cost-effective             
                 • enforceability of the outcome:        • enforceability of the outcome:  
          yes                                     no