mARCH 2012 16 Global Arbitration POWER TO THE OUTSIDER ARBITRATION
Widely seen as a preferable alternative method of dispute resolution, Arbitration is the process by which parties involved in a dispute allow an impartial third party to determine the solution. Arbitration is an integral tool in relationship maintenance within business across the world.
D
ispute in business is inevitable. It is an integral part of growing
a business, succeeding within it, and maintaining that success. It is how disputes are handled that matters. Disputes can arise from almost
any area of business – intellectual property related disputes such as copyrights, patents and trademarks; contract issues and employment disputes. However, despite the inevitability, the extent to which any disputes spread and the extent to which they affect your business, reputation and profit, can be controlled. By consulting experienced and skilled legal experts, disputes may not always be avoided entirely, but they can be navigated effectively and a solution beneficial to all involved is more likely to be settled. In the current economic climate, it
is vital for companies to resolve disputes in ways which are both cost-effective and commercially- oriented. Traditional litigation is not always the most appropriate method of resolving commercial differences
and it is becoming increasingly more important for clients to be aware of all techniques available. In addition, as cross-border projects are becoming a more frequent activity amongst businesses, international arbitration is also becoming more and more popular. Reasons for this include the fact that it offers a reliable and neutral environment that is often preferable to litigation in an unfamiliar jurisdiction.
Suzuki vs. Volkswagen One of the most high-profile arbitration stories recently is that of car-manufacturing giants Suzuki and Volkswagen. At the end of 2011, the two companies were embroiled in a bitter battle regarding their strategic partnership which had not gone as well as first hoped, and in November, the Japanese firm looked to force Vw to submit to arbitration proceedings to resolve their differences and the move was the latest development in is the latest move in Suzuki’s bid to persuade Vw to relinquish its 19.89 per cent share
in Suzuki, which up until then, it refused to do, claiming, according to the Financial Times, that the share is an ‘attractive investment’. The alliance has broken down
allegedly over conflicts regarding technology transfers, the FT reported, and Vw has said: “Volkswagen categorically repudiates any allegation that we have in any way breached or failed to comply with the spirit of the co-operation agreement and rejects any termination of the agreement.”
ICC Developments 2011 saw several developments in the world of arbitration across the world. For example, in June the International Chamber of Commerce (ICC) officially adopted the revised ICC Rules of Arbitration, which were published in September. Expected to come into force this month, (January 2012) the new rules will be applicable to disputes under agreements entered into both prior to and after that date. The amended rules will bring the
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