Get Mediation In Intellectual Property

Mediation is appealing because it allows parties to reach a collaborative settlement, but it could end in impasse. Arbitration, on the other hand, can wrap up a dispute conclusively, but it doesn't give disputants much say in the outcome.

When considering what the advantages and disadvantages of mediation are, savvy entrepreneurs understand that while mediation is extremely cost-effective, it is also non-binding. That means that you may be able to resolve your dispute cheaply, but there is no guarantee you will reach a resolution.

Alternative dispute resolution (ADR) can provide a viable alternative to traditional litigation. Common examples include mediation and arbitration. These forms of ADR can save those who are in an intellectual property (IP) dispute time and the expense that comes with taking these disputes into the courtroom.

Arbitration hearings are generally held in private which may be a positive to many. However, it is possible that this lack of transparency makes the process more likely to be biased, which may be problematic because arbitration decisions are also infrequently reviewed by the courts.

Get good results at your mediation by keeping these basic tenets in mind. Rule 1: The decision makers must participate. ... Rule 2: The important documents must be physically present. ... Rule 3: Be right, but only to a point. ... Rule 4: Build a deal. ... Rule 5: Treat the other party with respect. ... Rule 6: Be persuasive.

Mediation costs less than a lawsuit and avoids the uncertainty of a judicial outcome. Mediation fosters cooperation. Mediation fosters a problem-solving approach to complaints and workplace disruptions are reduced.

Arbitration. In an arbitration procedure, all parties agree to submit the dispute to one or more arbitrators who then make a binding decision on the dispute. The arbitration procedure is private and less formal than court proceedings.