By: Matthew Lowe
I. Introduction
The role that arbitration has played in corporate affairs has transformed over the years. As industries have expanded, so too has the function of arbitration. While some may argue that such expansion has had a positive and healthy affect on the adjudicative processes of private disputes, others disagree. Currently, arbitration clauses found in purchase agreements continue to be expansive, despite recent mainstream dissent. The labor and employment field, on the other hand, is undergoing changes in deferral standards following a recent decision by the National Labor Relations Board (“NLRB”).
II. Background
Arbitration is a form of alternative dispute resolution that rests outside of the direct purview of the courts. Structurally, arbitration depends on the decision-making authority of an independent third-party (single or panel), which is chosen through the agreement of two contracting parties. As a practice, arbitration gained serious momentum in 1925, through the enactment … Read the rest