The parties are close to completing their negotiations on every point in the deal, but there is one aspect left: dispute resolution. It is admittedly difficult when putting together an agreement to look ahead to how it may fall apart in the future, but that is an important component to protecting your rights and interests. Negotiate it now or regret it later.
Do you want arbitration at all? In most commercial disputes, it is favored for its confidential nature, and the timeliness of a resolution saves real money. For example, for commercial disputes, the current average time from initiation to award at the American Arbitration Association (“AAA”) is 7.3 months. Compare that with the time to resolution for most court cases, and arbitration has a clear advantage.
To continue reading,
become a free ALM digital reader.
- Unlimited access to InsideCounsel, Corporate Counsel, Consulting Magazine and Legaltech News Online
- 5 Free articles from across the ALM network every 30 days
- InsideCounsel digital newsletters, plus your choice of over 70 newsletters
- Exclusive discounts on ALM events and publications