What type of international dispute resolution is available to global businesses?

International business law in Texas provides options for global businesses to resolve disputes. Arbitration is one type of dispute resolution available to global businesses, where an impartial third party examines evidence and testimony to render a decision on the dispute. The decision made by an arbitrator is legally binding and usually enforceable in U.S. courts. Mediation is another form of dispute resolution available for global businesses, where a mediator helps the parties come to an agreement without issuing a legally binding decision. Mediation is often preferred by businesses because it can help them come to an agreement faster than arbitrating or litigating in court. Alternative dispute resolution (ADR) is a third option, which uses a neutral third party or panel of people to assist both parties in a dispute to come to a resolution. ADR is particularly helpful in cases where the parties want to preserve their relationship. Lastly, litigation is a formal process that can be used to resolve disputes internationally. Litigation involves filing a lawsuit in court and letting a judge decide the outcome of the dispute. Litigation can be a lengthy and costly process, so many businesses prefer to use the other options available to them.

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What type of international dispute resolution is available to global businesses?

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