Team B-Dispute Resolution.docx

C a decision by the arbitrator will become final and

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c. A decision by the arbitrator will become final and binding on the parties involved and may be entered and enforced in any court of competent jurisdiction by either party.
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3 d. The party that is found not at fault during arbitration will be reimbursed any fees incurred in connection with the proceedings, whether directly or indirectly unless the arbitrator deems otherwise. Enforceability The contract in question is in good standing as long as both parties have continued to hold up their obligation to provide services and financial compensation for said services. If one or more parties are in breach of said contract, the agreement for arbitration is not met; this is not a valid, enforceable arbitration agreement. For a binding arbitration provision to be enforceable, there are two main elements that must be present. “First, the arbitration agreement itself must provide that both parties mutually promise to submit their disputes to arbitration. Second, the arbitration agreement must provide a neutral forum to resolve disputes” (Tayman, 2015). Both parties agree that all decisions made by an arbitrator are final and may not pursue further litigation beyond the mediation process. As long as both party’s obligations are met, considerations will have been met, thus providing each party the opportunity to pursue arbitration for continued services. Problems that may arise Any company should know rules and laws to protect their product or services. In a software company, software must be protected to ensure nobody releases the same product without the company’s permission. In this way, the company can protect themselves from any legal issues. For instance, the technology company should take care of copyrighting software and getting a patent for the software products made by the company.
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  • Spring '10
  • Arbitration, American Arbitration Association, American Arbitration Association.

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