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The first ADR was introduced by J.P. Morgan in 1927 for the British retailer Selfridges on the New York Curb Exchange, the American Stock Exchange's precursor. [4] They are the U.S. equivalent of a global depository receipt (GDR). Securities of a foreign company that are represented by an ADR are called American depositary shares (ADSs).
When wool contract arbitration was conducted by senior guild officials, the arbitrator combined a seasoned expert on the subject matter with a socially dominant individual whose patronage, goodwill and opinion were important. ADR can increasingly be conducted online, which is known as online dispute resolution (ODR, which is mostly a buzzword ...
Specialist ADR bodies also exist, such as the World Intellectual Property Organisation (WIPO), which has an arbitration and mediation center and a panel of international neutrals specialising in intellectual property and technology related disputes. A number of arbitral institutions have adopted the UNCITRAL Rules for use in international cases.
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.
Automated negotiation relates to those methods in which the technology takes over (aspects of) a negotiation. Most of the ODR services in this area are so-called 'blind-bidding' services. This is a negotiation process designed to determine economic settlements for claims in which liability is not challenged.
Because of the importance of the BATNA for negotiation success, several tactics focus on weakening the opponent's BATNA. This may be achieved e.g. by striving for exclusive negotiations, delaying or accelerating the ongoing negotiations, or limiting the negotiation partner to technical systems.
Modalities are the formulas, targets, or specific measures used to accomplish objectives in trade negotiations. An example of modalities in the current World Trade Organization agriculture negotiations would be a percentage phase-out over a specified time period of agricultural export subsidies or the use of the Swiss formula for tariff reduction and harmonization.
The conciliation process begins when both parties agree to engage in it as a method of resolving a dispute. [1] There are multiple uses for this form of alternative dispute resolution including transnational intellectual property, [2] legislative assemblies, [3] peace efforts, [4] and other areas of community concern.