Management and Organizational Studies 2275A/B Chapter Notes - Chapter 4: Counterclaim, Class Action, Alternative Dispute Resolution

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Desmond Mc Keon

Document Summary

Business organizations require a risk management plan to minimize the potentially adverse impact of the legal environment through prevention and a planned reaction to adverse events when they arise. However, legal problems cannot always be avoided, and it is not in the best interest of the business to avoid all legal conflicts at all costs. (extended example page 71 74) Alternative dispute resolution (adr): a range of options for resolving disputes as an alternative to litigation. Negotiation: a process of deliberation and discussion intended to reach a mutually acceptable resolution to a dispute: most common, due to: Allows parties to craft a solution that is suitable for their particular situation. Helps to preserve relationship between the parties: when to negotiate: Virtually any type of dispute, at any stage of it. Parties may agree to negotiate, or a contract may require the parties to attempt to negotiate: how to negotiate: