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ADR stands for Alternative Dispute Resolution. **Definition:** ADR refers to any method used to resolve disputes outside of traditional courtroom litigation. Common ADR processes include mediation, arbitration, and negotiation. **Key Characteristics:** - Usually faster and less expensive than court. - May involve a neutral third party (mediator or arbitrator). - Can result in binding or non-binding outcomes, depending on the process. **Example:** If two businesses disagree over a contract, instead of suing each other, they might use mediation (a form of ADR) to try to reach a settlement. If you meant ADR in another context (such as finance, where ADR stands for American Depositary Receipt), please specify!
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