As a Texas professional, one of your main priorities is the protection of your interests and those of your business. Accusations of wrongdoing, formal complaints and legal claims can result in financial loss, damage to your reputation and even the loss of your professional license. If you find yourself in a position in which your career is on the line, you may look for different ways to resolve the dispute and put the matter behind you.
There are several ways you can resolve disputes, and litigation is not your only option. Through different types of dispute resolution methods, you may be able to preserve your interests and secure the longevity of your career. One of these options is arbitration, a formal legal proceeding employed for the purpose of resolving matters between contending parties while avoiding the need for a protracted and costly legal battle.
Arbitration and its benefits
Like any other type of legal proceeding, arbitration is a formal process that follows certain rules and procedures. If you are facing accusations of professional misconduct of any kind, arbitration could provide you the opportunity to defend your interests in a more private and less stressful manner than a traditional court proceeding. Arbitration may be less formal than the litigation process in court, but you can expect the following to take place as you navigate this process:
- One party will inform the other of its intent to arbitrate to resolve the dispute, and the other party will have the opportunity to respond.
- Because it is more streamlined than litigation, arbitration may begin more quickly as it involves less paperwork and has a reduced discovery process.
- There will be a panel of arbitrators that will oversee the process, and they will hear arguments from each side. Witnesses may also speak before the panel.
- After considering the arguments of each party, the panel of arbitrators will make a final decision on the case.
You will still benefit from having experienced counsel as you walk through the arbitration process. While it is not litigation, your career and reputation could still be on the line, and you will benefit from being proactive in how you defend your interests and fight for the long-term security of your career. This method of resolving disputes is often a preferred choice by those facing disputes related to their professional licenses or actions while doing their jobs.