Arbitration has been in practice for a long time. People from different times took help of arbitration to solve disputes between two parties. In today’s age, when the world is becoming a global village and investors are investing their capital in different countries, the world is now seeing the rise of international arbitration.
Among the possibilities of disputes between international companies and investors, arbitration is essential. In addition, it is not limited to just one industry or field. Companies from different industries opt for this dispute resolution method. Here are the industries that rely on arbitration for dispute settlement.
Real Estate – Violations of a shareholder agreement and expropriation of property are some common topics on which businesses opt for arbitration in real estate.
Chemical industry – In this field, companies choose arbitration to resolve their conflicts of interests related to –
- The ownership and licensing terms of patents to chemical compounds
- Joint-venture and confidentiality agreements
Financial – Financial consolidation, acquisition of shares, financial services agreement and financial rules are some common areas in which disputes arise and then, businesses opt for arbitration.
Telecommunication – In the telecommunication industry, two parties choose the easier dispute settlement method when it comes to conflicts related to joint-venture failure and expropriation of a company.
Automotive and Aviation – In this field, businesses seek arbitrators for resolving disputes related to shareholders’ agreement, expropriation of patent rights as well as sale and leaseback of aircrafts.
Above mentioned are just a few of the industries that take help of arbitration to resolve their conflicts of interests. More and more businesses are opting for this dispute settlement method.