Arbitration clause or not, make an informed decision – Marijuana Venture

  • Most written agreements now have terms for dispute resolution ranging from a simple choice of law agreement to a multi-level dispute resolution to a trial and
  • Although dispute resolution is often considered just another unimportant boilerplate provision that makes your eyes glaze over, it is far more important than you might think.
  • Deescalating hostility: Because the parties in arbitration are usually encouraged to participate fully and sometimes even to help structure the resolution, they are often more likely to work together peaceably rather than escalate their angst and hostility toward one another, as is often the case in litigation.
  • There are possible drawbacks of arbitration that cannabis companies need to be aware of.
  • In the end, when establishing contracts, include a dispute resolution process or at minimum a choice of law based on where you prefer to handle a lawsuit.

Read full article: marijuanaventure.com