Management and Organizational Studies 2275A/B Lecture 2: ch4 law notes

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Introduction: sometimes legal problems cannot be avoided - might have to risk a legal dispute, manage disputes to, avoid time consuming and expensive litigation, preserve desirable long term commercial relationships. Alternative dispute resolution: a range of options for resolving disputes as an alternative to litigation. Negotiation: process of deliberation and discussion intended to reach a mutually acceptable resolution to a dispute: cost effective, quick, most common, helps preserve relationship. When to negotiate contract may require/agree to attempt negotiation can be employed at any stage of dispute if insurance covers the risk that is the subject of dispute negotiation should not be used. When negotiations end: when an impasse occurs the business is face with a choice: concede and cut its losses or risk the expenditure of more time and money. Mediation: a person who helps the parties resolve their dispute: cheaper and quicker, private and con dential, preserves relationship, results in a resolution tailored to the needs of the parties.