Looking for an effective but still more flexible way to solve a commercial dispute? Then you most likely came across the alternative to a traditional court process – the arbitration. Here you get to choose your representative, ideally, an expert in your business field. Legal professionals share some insights on the thought-out choice of your business representative for the arbitration.
Proven Experience in Arbitration Field
When choosing a third-party person, it’s wise to opt for a relevant market professional. Suppose you are in the fintech field. Then, look for a fintech law specialist. Now, you want your representative to have proven experience in similar cases and in arbitration in general. Even though it’s based on the same laws, you get to choose the ones to be applied to solve the dispute.
Knowledge of Foreign Legal Systems
As you get to choose the laws applied in the case of an argument, arbitration is one of the most efficient ways to solve international disputes. So, another crucial criterion for your representative – knowledge of the relevant foreign legal system or systems. For instance, if you or your partners are based in Lithuania, seek recognized lawyers specializing in dispute resolution in Lithuania.
Strategical Thinking
The representative should first be a strategist despite your business partners’ country or the market you’re in. Arbitration provides a way more flexible environment as well as responsibilities to create a perfectly working system. The kind of a legal system that would save you some precious time and money. That’s why it’s best to research lawyers who could guarantee winning resources despite the final scenario.
Effective Communication Skills
Finally, the commercial dispute is a form of negotiation. So, it’s essential to find a field professional who has excellent communication skills. Lawyers note to choose a representative for whom various disputes are part of daily work. And suppose there’s a proven experience of a prior cases’ success. In that case, chances are you get to work with a highly-skilled, strategically communicating person.
Get serious about having full-fledged support in the arbitration processes. How to find the best fit in your case? Well, opting for a recognized arbitration representative, chances to get a perfect combination of professional and personal skills are higher.
