ASSESSING THE EFFECTIVENESS OF ALTERNATIVE DISPUTE RESOLUTION IN CORPORATE CONFLICT RESOLUTION

AUTHORS- MS. NISHA YADAV* &DR. CHANDER PARKASH SINGH**, LL.M. STUDENT* AND ASSOCIATE PROFESSOR AT CHANDIGARH UNIVERSITY, MOHALI

BEST CITATION – MS. NISHA YADAV &DR. CHANDER PARKASH SINGH, ASSESSING THE EFFECTIVENESS OF ALTERNATIVE DISPUTE RESOLUTION IN CORPORATE CONFLICT RESOLUTION, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 267-274, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

The utilization of Alternative Dispute Resolution (ADR) mechanisms in the resolution of corporate disputes has proven to be an efficacious alternative to conventional litigation. This study examines the effectiveness of ADR methods, including arbitration, mediation, and negotiation, in addressing complex corporate conflicts. ADR offers significant advantages such as expedited proceedings, reduced costs, confidentiality, and the preservation of business relationships. Through an analysis of case studies and empirical data, this paper highlights ADR’s role in alleviating judicial burdens and fostering amicable, mutually beneficial solutions. However, the study acknowledges challenges inherent in ADR, including enforceability concerns, power imbalances between parties, and the variable expertise of arbitrators and mediators. The research posits that the success of ADR in corporate dispute resolution is influenced by factors such as the specific characteristics of the dispute, the willingness of the parties to engage in good faith, and the robustness of the supporting legal framework. This paper concludes that, when effectively implemented and supported by appropriate legislative and institutional structures, ADR serves as a potent mechanism for the resolution of corporate disputes, promoting both procedural efficiency and substantive justice.

Keywords: Alternative Dispute Resolution (ADR), corporate disputes, arbitration, mediation, negotiation, efficiency, confidentiality, cost-effectiveness, business relationships, enforceability, legal framework, dispute resolution