Arbitration: A dispute resolution process where an impartial third party makes a decision after hearing both sides. It's like having your own private judge.
Mediation: This is another method of dispute resolution where an impartial third party helps disputing parties reach agreement. The mediator doesn't decide for them but facilitates conversation so they can find their own solution.
Litigation: This refers to resolving disputes through lawsuits in court. It's like taking your argument to the principal's office and letting them decide who's right.