Winning Strategy: Negotiating With A Clear Understanding Of The Opponent

Introduction

Individuals and business entities are increasingly relying on litigation or arbitration, two widely implemented processes, to settle opposing views and interests (Stipanowich, 2010). The purpose of this paper is to demonstrate the significance of alternative means, i.e., an amicable settlement and its potential to beget a mutually advantageous resolution.

Dispute resolution "refers to a number of processes that can be used to resolve a conflict, dispute or claim, ... alternatives to having a court (state or federal judge or jury) decide the dispute in a trial or other institutions decide the resolution of the case or contract" (American Bar Association). For example, arbitration is an effective, legally binding means to settle complex disputes arising between opposing parties. However, relying on arbitration or more formal court procedures to determine which party bears the most responsibility and proportional restitution is not always the best