Although becoming embroiled in a dispute with a seller after the purchase of a business is the last thing on the purchaser’s mind at the time of the purchase, the purchase agreement must address the mechanism to be used to resolve any potential disputes. Many years ago, there was only one way to resolve disputes – courts. As parties involved in disputes experienced the long delays and enormous costs involved with court litigation, an alternative dispute mechanism developed – arbitration. Careful attention needs to be devoted to the exact type of dispute resolution procedure to be specified in the purchase agreement; if that issue is overlooked, an aggrieved purchaser may have to spend as much time and expense in arbitration as it would in court. Although in theory an arbitration can be decided quicker and much less costly than a court case, that theory is often a myth. There are three main arbitration organizations that are used to resolve disputes in arbitration – the American Arbitration Association (AAA), JAMS (formerly known as Judicial Arbitration and Mediation Services) and the CPR Institute for Dispute Resolution (CPR). Although similar, these three arbitration alternatives can have vastly different procedures, varying lengths of time for dispute resolution and significant differences in costs and expenses. Certain arbitration organizations provide expedited rules and procedures that can save a substantial amount of time and money. The lesson here is that you need to understand the differences and implications of the dispute resolution choices so that you can make the best choice to be used in the event of an actual dispute.