Reassessing Commercial Arbitration: Making It Work for Your Company
Handling disputes that have strayed beyond the ability of both parties to negotiate a solution by themselves presents a variety of strategic and logistical challenges.1 While many inhouse counsel have come to appreciate the business benefits of non-binding mediation, even at an early stage, the fact is that binding arbitration often remains suspect, especially outside of the international arena where the process makes obvious sense for reasons of cross-border neutrality and enforcement.2 This often occurs because of a lack of information, one-off personal experiences, or — most tellingly — failure to design and plan a good arbitration process that fully exploits the many flexible and customizable options available to parties and counsel.
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Handling disputes that have strayed beyond the ability of both parties to negotiate a solution by themselves presents a variety of strategic and logistical challenges.1 While many inhouse counsel have come to appreciate the business benefits of non-binding mediation, even at an early stage, the fact is that binding arbitration often remains suspect, especially outside of the international arena where the process makes obvious sense for reasons of cross-border neutrality and enforcement.2 This often occurs because of a lack of information, one-off personal experiences, or — most tellingly — failure to design and plan a good arbitration process that fully exploits the many flexible and customizable options available to parties and counsel.
Full Article Below:
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