Examines the importance of dispute resolution experts to ensure the smooth running of a business.
Written in 2002; 2,713 words; 6 sources; APA; $ 81.95
Paper Summary:
Over the past few decades, there has been a dramatic change in the way that businesses and courts approach dispute resolution. Businesses are now encouraged to resolve disputes by alternative methods, such as mediation and arbitration, rather than take all disputes to court.
This paper shows that effective dispute resolution is vital to the reputation of businesses, as well to the growth of trade and investment. Many methods of dispute resolution attempt to resolve conflicts that do not involve an alleged violation of law. This paper discusses Alternative Dispute Resolution (ADR) which refers to any form of mediation or arbitration and their use in resolving disputes and is largely used amongst companies worldwide to resolve business disputes. The paper shows that many ADR approaches are very flexible and include early neutral case evaluation, facilitation, conciliation, mediation, arbitration, negotiation, or any other dispute resolution method that may be appropriate for a particular dispute. The paper looks at the reasons behind the increasing popularity of ADR including the fact that a growing number of legal mandates require the use of mediation and arbitration to resolve disputes.
From the Paper:
"Companies around the globe have used arbitration and mediation to settle a variety of disputes. For example, in the United States, arbitration and mediation are often used to settle labor disputes that are rooted in conflicting interpretations of existing employment contracts, construction disputes between general contractors and subcontractors relating to construction damage claims, or between contractors and owners relating to the nature of work and payment clauses in employee contracts, and shareholder disputes concerning the valuation of stock in closely held companies (Riskin, 1997, p. 277-279)."
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