The Future of Dispute Resolution: Emerging Trends to Watch
Rethinking Dispute Resolution
Dispute resolution is one of the vital parts of any enterprise. Legal aspects of running a business are not essential, but they are irreplaceable in performing successful business operations. Without efficient dispute resolution, no contractual obligation will produce a meaningful effect.
However, in today’s ever-changing world, dispute resolution models are changing, too. Instead of lengthy and financially exhausting litigation that ruins business relationships (more often than not), business people and lawyers invent new, more efficient ways to resolve conflicts. The need to reach mutually beneficial outcomes and continue thriving business relations has brought novel approaches to the world of dispute resolution.
This article will discuss emerging trends and innovative ways of dispute resolution. Read on to learn more.
Shaping the Future of Dispute Resolution: New Trends and Approaches
As the world becomes more interconnected, new trends are emerging in the legal sphere of dispute resolution. The advanced technologies and alternative dispute resolution methods, including globalization and cross-border enforcement, will shape the future of resolving business conflicts. Below are the most important trends to watch in the years to come:
- Artificial intelligence. The use of artificial intelligence (AI) is one of the newest trends in dispute resolution. AI has the potential to transform conventional contract law and conflict resolution approaches. Relying on advanced algorithms, AI can analyze contracts, pointing to red flags and potential causes for disputes. After detecting potential contested issues, AI programs execute built-in conflict resolution processes, so parties can settle without going to court. With powerful analytical capabilities, the modern technology can learn case law and predict the outcome of disputes. However, AI raises concerns about bias, transparency, and accountability. Addressing these issues is a critical precondition for accepting this revolutionizing technology into wide use.
- Online dispute resolution. The need for remotely conducted processes gave birth to online dispute resolution (ODR). As a technology-assisted method, ODR found use in e-commerce and e-payment platforms disputes, as well as in family law. However, with the advance of technology, this method is becoming increasingly capable of dealing with more complex conflicts. The main advantages of ODR are its efficiency, cost-effectiveness, and accessibility. The parties can resolve the most contested disputes from the comfort of their homes.
- The popularity of collaborative law. Collaborative law has become increasingly popular in recent years. As an out-of-court method, a collaborative process is an efficient tool for dealing with family (and other) disputes. Each party hires an attorney to collaborate in bringing mutually successful outcomes through peaceful negotiations. Collaborative law enables parties to reach satisfactory solutions without going to court.
- Increased use of mediation. As an alternative dispute resolution method, mediation has multiple benefits over traditional litigation. Parties entrust their dispute to a neutral third person called the mediator. Its role is to facilitate negotiations without imposing solutions. Mediation produces long-term results because parties are more likely to enforce agreed-upon terms of their settlement than the decisions issued by state-appointed judges.
- The globalization of conflict resolution. The modern world is becoming highly interconnected in almost all areas of social and economic life. The legal sphere is following the lead, and new international courts and arbitrations are emerging regularly. These institutions adopt universal rules of procedure, enabling disputed parties from different countries to find a venue for resolving their conflict.
- More efficient cross-border enforcement. States and national courts are investing significant efforts in ensuring the decisions made by one court are enforceable in other countries. Governments and international organizations are signing multilateral conventions and adopting rules enabling cross-border enforcement.
- Automatic dispute resolution. Decentralized arbitration services and automated dispute resolution software represent innovative approaches that will shape the future of conflict resolution, enabling parties to solve their dispute securely and affordably.
- Efficiency and analytics tools. Modern-day lawyers have almost unlimited possibilities for optimizing their workflow. Some innovative tools for improving dispute resolution include semi-automated research, automated transcription, advanced drafting software, intelligent analytics tools, etc.
- In an ever-changing world, dispute resolution methods are adjusting, too.
- Instead of traditional and inefficient litigation, latest trends and approaches to conflict resolution are emerging every day.
- The advanced technologies and approaches shaping the future of dispute resolution include artificial intelligence, online dispute resolution, collaborative law, mediation, international courts and arbitrations, cross-border law enforcement, automated dispute resolution, and innovative efficiency and analytics tools.
Stay Up to Date with Emerging Trends with Ms. Langbein ADR Services When Virtual Services Are Needed or Desired
Ms. Langbein ADR Services is a leading alternative dispute resolution firm whose principal, Leslie W. Langbein, has nearly three decades of experience in resolving contested matters. Ms. Langbein periodically undergoes high level training to stay current with the emerging trends and approaches to conflict resolution, including the use of virtual platforms. You can always expect the highest levels of effort and ethical conduct when using Ms. Langbein ADR Services whether your proceeding is conducted in person or by using the latest web-based technology. Call Ms. Langbein ADR Services when you are considering a virtual mediation or arbitration.
Please reach out today to schedule your appointment.