What is Arbitration?

When we use the term "arbitration" in our daily life, it means to intervene in a dispute between parties and thus, leading to the resolution of such dispute; however, "arbitration" as used here has a legal meaning different from this more common understanding. In the latter type of arbitration, the existence of an arbitral agreement (arbitral contract), that is, "an agreement to appoint one or three arbitrators to make a decision on a dispute relating to private legal relation, and that both shall follow this decision" between the disputing parties is an essential prerequisite. Arbitration is also fundamentally different from mediation which is a process aimed at resolving a dispute without arbitral agreement.
When an arbitral agreement is reached and an application for arbitration is made to this Center, the resolution of a dispute shall be entrusted to three arbitrators, including at least one attorney-at-law and one patent attorney. If both parties desire to do so, each shall appoint one arbitrator, respectively, and this Center shall appoint the third arbitrator.
An arbitral award rendered by arbitrators shall have binding force on the disputing parties, and no appeal (including lawsuit) can be pursued, in principle.