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ABSTRACT Alternative Dispute Resolution (ADR), especially arbitration, has become an integral part of doing business as businesses consider the high costs of resolving legal disputes in court. While large corporations have embraced arbitration as a means to resolve disputes with less cost, both financial and otherwise, small business can also benefit from ADR. This paper discusses the costs of litigation and potential advantages of mediation and arbitration. The law regarding arbitration is examined to provide the business person with a working knowledge of this method of ADR. In addition, suggestions are made as to how to implement arbitration clauses into business contracts.