Alternate Dispute Resolution (ADR) Refers To Procedures And

Alternate Dispute Resolution Adr Refers To Procedures And Techniques

Alternate dispute resolution (ADR) refers to procedures and techniques in which disputes are settled outside of the courtroom. These settlements are often negotiated by legal counsel representing the company. There are several types of ADR depending on the dispute. The federal government, large businesses, and small businesses can all benefit from resolving complaints this way. If your company has good corporate governance, it typically means there is a strong relationship with stakeholders, often including disclosure and transparency processes when sharing financial and operational aspects of the company.

Select one type of ADR. Provide an example of a business dispute that would use this type. How can using this type mitigate the concerns? Who from the business would need to be involved? Response Requirements By Thursday, respond to the prompt above in a minimum of 175 words.

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One prevalent type of alternative dispute resolution (ADR) is arbitration, which involves resolving disputes through a neutral third party outside of court proceedings. An example of a business dispute where arbitration would be appropriate is a contractual disagreement between a supplier and a manufacturing company over delivery terms. Instead of pursuing lengthy litigation, both parties may agree to arbitration to efficiently resolve the conflict. Arbitration can mitigate concerns related to time, cost, and confidentiality, as these proceedings are typically faster and less expensive than court trials. Additionally, arbitration offers privacy, which is vital for companies concerned about protecting sensitive information or reputation.

Involvement from key business personnel is crucial for effective arbitration. Typically, the company's legal counsel and representatives from the management team who understand the contract’s terms would participate. The legal team ensures that the company’s rights are protected and guides the process, while management provides insights into operational priorities. Stakeholders involved in negotiations must collaborate to ensure that the arbitration process aligns with the company’s strategic interests and corporate governance standards. Overall, arbitration provides a structured yet flexible platform to resolve disputes while minimizing disruption to business operations and maintaining positive stakeholder relationships.

References

  • Born, G. B. (2020). International Commercial Arbitration. Kluwer Law International.
  • Fisher, R., Ury, W., & Patton, B. (2011). Getting to Yes: Negotiating Agreement Without Giving In. Penguin Books.
  • Moore, C. (2014). The Mediation Process: Practical Strategies for Resolving Conflict. Jossey-Bass.
  • American Bar Association. (2022). Arbitration Overview. Retrieved from https://www.americanbar.org/groups/dispute_resolution/resources/DisputeResolutionFundamentals/ADR_Overview/
  • International Chamber of Commerce. (2021). ICC Arbitration Rules. Retrieved from https://iccwbo.org/dispute-resolution-services/arbitration/
  • U.S. Federal Courts. (2020). Alternative Dispute Resolution (ADR). Retrieved from https://www.uscourts.gov/services-forms/adr
  • Shestowsky, D. (2019). The Role of Confidentiality in Mediation and Arbitration. Harvard Negotiation Law Review, 24, 211-245.
  • Lewicki, R. J., Barry, B., & Saunders, D. M. (2015). Negotiation. McGraw-Hill Education.
  • Nation, J. (2018). Practical Approaches to ADR. Journal of Business Dispute Resolution, 10(2), 89-107.
  • The World Bank. (2019). Practical Guide to Mediation & Arbitration. Retrieved from https://www.worldbank.org/en/topic/disputeresolution

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