This form is a Private Dispute Resolution Clause usable to compel negotiation and mediation prior to arbitration or litigation in contracts where licensing, patents, or commercial trade secrets are a factor.
This form is a Private Dispute Resolution Clause usable to compel negotiation and mediation prior to arbitration or litigation in contracts where licensing, patents, or commercial trade secrets are a factor.
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Alternative dispute resolution (ADR) allows parties to customize their dispute resolution process. Parties can insert the standard arbitration or mediation clause in their contract and can further customize their clause with options that control for time and cost.
Rather than imposing a solution, a professional mediator seeks to assist the conflicting sides in exploring the interests underlying their positions. Working with parties together and sometimes separately, mediators try to help them hammer out a resolution that is sustainable, voluntary, and non-binding.
In private judging, parties authorize an expert in their legal dispute to resolve the issue. The parties hire a private judge, often a former judge or an attorney. The parties take turns presenting their case to the judge, after which the judge issues a legally binding decision. The court appoints a private judge.
Mediation is "a method of nonbinding dispute resolution involving a neutral third party who tries to help the disputing parties reach a mutually agreeable solution." Black's Law Dictionary 1070-71 (9th ed. 2009).
The main advantages of solving a problem with ADR are: it's usually cheaper, more flexible, faster and less stressful than going to court. you might receive compensation. it's confidential.
The outcome of mediation is not binding, however, after the end of the mediation parties can still initiate litigation to resolve their dispute and get an enforceable judgment.
Third-party conflict resolution involves the use of a neutral third party to either help in the resolution of a dispute or to resolve the dispute. Disputes within organizations can be resolved by the use of a third party in three different ways.
Arbitration In arbitration, a neutral third party serves as a judge who is responsible for resolving the dispute. The arbitrator listens as each side argues its case and presents relevant evidence, then renders a binding decision.