That is the title of an article by Kirk Knutson that appears in the latest issue of Metropolitan Corporate Counsel, a publication for legal professionals. The article discusses several anti-arbitration bills that have been introduced in Congress, their potential effects on consumer arbitration, and the underlying myths steering them.
Additionally, Knutson calls attention to the direct and indirect benefits of consumer arbitration. Indirect benefits to non-parties, he writes, "are often overlooked in the debate over arbitration."
One example of an indirect benefit is to the marketplace at large. When companies use arbitration, and thus experience reduced attorney fees, savings are "passed along to consumers in the form of lower prices."
Another example lies in aggregate savings for taxpayers. These savings are "substantial because studies have shown that, on average, court-based resolution of a civil dispute costs the taxpayers approximately $3,000.14."
Click here to see the full article. Mr. Knutson is Senior Staff Attorney at Forthright where he does much of his work on behalf of the National Arbitration Forum.
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