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Businesses often depend on Mediation and Arbitration as mechanisms to resolve disputes outside of the judicial courts. This paper examines how the Internet is revolutionizing the legal world of dispute resolution. The paper analyzes data from the academic-business interface developed by two universities working together to make openly share information related to Arbitration and Mediation, on the lines of Wikipedia and YouTube. Their initial forays in this field have been a success, encouraging increased funding and further development of their website. This paper analyzes their success, gleaning insights about user behavior and acceptance of such initiatives. The paper also explores the utility of Web 2.0 for arbitrations and its future prospects.