The cumulated data of the first seven events (in Singapore, Mexico City, Lagos, New York, Geneva, Toronto and Madrid) of the Global Pound Conference Series that took place in 2016, shows that the preferences and priorities of parties involved in commercial and civil disputes differ from what providers perceive and offer. In other words, there are gaps between the “demand” and “supply” sides in the dispute resolution market.
My paper gives a preliminary view of the aggregate data and how the demand and the supply sides may be aligned. It also discusses how to improve the effectiveness and efficiency of dispute resolution processes, and concludes with a look at whether organizing the GPC Series is worth the effort.
The data analysed highlights the gaps between what parties want and what providers prioritize. For example parties emphasis on financial outcomes in commercial dispute resolution processes, parties preference that advisors should collaborate with them whereas advisors believe they should speak or advocate for the parties, parties needs for efficiency for determining commercial dispute resolution processes whereas advisors believe that their own advice is more important factor than efficiency.
More importantly, it also emphasises alignment across stakeholders on how these gaps can be addressed to evolve the dispute resolution marketplace. The data indicates need for guided choice based on type of dispute, inclusion of pre-dispute or pre-escalation processes, introduction of mixed modes/tailored processes, continued education in business and law schools on dispute resolution.
While it is likely that these themes and trends may change as the GPC Series progresses, it is also possible that the first seven events are an accurate predictor of what will come next.
Written by Mansi Karol.
To access the full paper entitled “Ambitious Goals and Global Plans: The Global Pound Conference Series” please click here.
Mansi Karol is an Indian qualified attorney, she is currently pursuing an LLM in Dispute Resolution and Advocacy in Benjamin N. Cardozo School of Law in New York and will be graduating in May 2017. Her experience ranges in international law, commercial law and alternative dispute resolution. She has also done an LLM from Queen Mary University of London.