Companies Hope to Lower Their Overall Cost Structure or Improve

question 22

True/False

Companies hope to lower their overall cost structure or improve the quality or functionality of their product offering through globalization of production.

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Definitions:

ADR Contract Clause

A provision in a contract that requires the parties to resolve disputes through Alternative Dispute Resolution methods, such as arbitration, instead of court litigation.

Litigation

The process of taking legal action or bringing a lawsuit in a court of law to resolve a dispute.

ADR Procedures

Alternative Dispute Resolution methods, which include mediation and arbitration, aimed at resolving disputes without litigation.

Settlement Week

An ADR technique in which the court clears its docket of all business except settlement hearings.