There are many ways to settle business disputes. Litigation in courts is common in the United States, much less common elsewhere. Mediation and friendly consultations, which are not binding, are increasingly used and predominant in Asian countries like China. ARBITRATION is growing rapidly as a business dispute-settlement method in the United States and globally. Arbitration is typically binding and precludes going to court in most instances, although enforcement of arbitral awards in court may be required. One reason for the growth in the use of commercial arbitration to settle international business disputes is the socalled New York Convention. This international agreement, to which the United States and over 100 nations are parties, greatly facilitates the enforcement of arbitration awards across borders. The U.S. Supreme Court has repeatedly demonstrated deference to arbitration as a method of settling business disputes, notably in the securities industry. Antitrust disputes can also be arbitrated. As a practical matter, many arbitrations result in compromises as opposed to the “winner-take-all” approach of litigation before courts. Arbitrators are often chosen ad hoc by the disputing parties, say one for each side with a third arbitrator chosen by those two selected arbitrators. There are many arbitration centers, where the arbitrators and their procedural rules come prepackaged. The American Arbitration Association hosts a wide range of business dispute-settlement options.