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

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

Document Summary

Negotiation: a process of deliberation and discussion used to reach a mutually acceptable resolution to a dispute. When insurance covers the risk that is the subject of dispute, the business is required to allow the insurer to conduct settlement negotiations. Whether the negotiations will succeed depends on a number of factors, including the following: The willingness of the parties to compromise and negotiate in good faith. The priority the parties give to its resolution. The effectiveness of those involved in the negotiations. To proceed or not to proceed with a legal dispute. Alternative dispute resolution (adr): a range of options for resolving disputes as an alternative to litigation. Mediator: a person who helps the parties to a dispute reach a compromise. Arbitrator: a person who listens to both sides of a dispute and makes a ruling that is usually binding on the parties. Is in accordance with the arbitration act in the relative jurisdiction.