Binding arbitration has its place. Look at the binding arbitration decision between Qualcomm and Blackberry, which is resulting in Blackberry receiving an $815,000,000 refund from Qualcomm after a royalty dispute involving licensed standard essential patents.

Because it was binding arbitration and not traditional court proceedings, this judgment is not appealable. This compressed what would have been a 10-year drawn out and extremely costly process into five days. That's it!

There are more arguments against binding arbitration when it's an individual against a conglomerate - you get a biased arbitrator and you're sunk with no means of redress.