Three Reasons to Employ Alternative Dispute Resolution to Settle IP Litigation
In the event of an IP litigation, there are two ways to settle the case. Plaintiffs can either opt for the traditional way of defending one’s case in the court of law or employ Alternative Dispute Resolution (ADR). ADR is used when your intellectual property lawyer in Edmonton opts for different ways of solving a dispute beyond litigation.
Some of the common forms of alternative dispute resolution are mediation, arbitration, adjudication, and referring to ombudsmen. Most intellectual property infringement claims involve millions of dollars and a lengthy litigation process that further adds to the cost. Given a genuine choice, no business owner would opt for a litigation procedure considering the cost and time involved. The next option is alternative dispute resolution. Here are a few reasons to consider alternative dispute resolution:
1) To Avoid Expensive Litigation Procedures
Any form of the legal procedure involves many expenses. You have to continue to pay your lawyer throughout the duration of the case. Additionally, the time lost in hearings could have been spent in key business tasks that would have contributed to your annual revenue. In some cases, evidence collection is done to prove the authenticity of an intellectual property, which also involves costs. Lastly, legal documentation also involves high costs. Costly litigations can be avoided if you opt for alternative dispute resolution.
2) Some Litigation Cases May Take Longer
IP litigation usually takes time. Cases can go on for months at a stretch. All through the duration of the procedure, you will have to invest a great amount of time and energy. No doubt your intellectual property lawyer in Edmonton will assist you in defending your stance, but the lengthy litigation procedure can take a toll on you and your business. A major advantage associated with mediation or arbitration is that you do not have to go through the court procedures. And, if everything proceeds smoothly, you can negotiate an amicable settlement with the plaintiff.
3) To Reduce Unnecessary Efforts
Being part of a lengthy IP litigation is no easy task. It demands time, effort, and resources. It is a stressful event in your life. The longer it takes for the case to solve, the higher your stress levels will be. But, if you opt for alternative dispute resolution then with the help of an intellectual property lawyer in Edmonton you can spare your business many expenses An ADR will solve your dispute in a much lesser time and will involve much less expenditure.
These were the top 3 reasons to consider alternative dispute resolution for your IP litigation. If you are on the lookout for an intellectual property lawyer in Edmonton, then get in touch with our legal experts to negotiate a successful settlement for your IP.