Many new businesses understand that domestic arbitral proceedings may save the company both time and money in the event of a legal dispute. Increasingly, start-up companies based in Texas and across the United States are reportedly utilizing the International Chamber of Commerce’s (“ICC”) arbitration rules as well. According to a recent article published by the Miami-based blog internationalarbitrators.com, young companies that do business across international borders are now opting to engage in international arbitration in lieu of what can sometimes become “risky global litigation campaigns.”
In the article, the author advises new start-ups and their legal counsel to review an ICC guide entitled “Effective Management of Arbitration: A Guide for In-House Counsel and Other-Party Representatives.” According to the article’s author, the resource offers new businesses and their lawyers timely and useful information regarding how to cost effectively handle cross-border arbitration.
Due to the variety and complexity of legal issues many start-ups face, it is imperative for new business owners to consider utilizing arbitral provisions in their company contracts and other agreements. A quality Austin-area small business and start-up attorney can help.
Additional Resources:
Even Start-ups are Using International Arbitration to Resolve Disputes, by Santiago A. Cueto, internationalarbitrators.com (February 8, 2016)
Photo credit: stevendepolo via Foter.com / CC BY
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