In an Effort to Reduce the Costs of Resolving Disputes

question 8

Multiple Choice

In an effort to reduce the costs of resolving disputes and produce durable resolutions,some organizations use a procedure in which senior executives consider the elements of a dispute.This procedure is known as the:

• A)wise counselor strategy
• B)multistep negotiation procedure strategy
• C)mediation-tribulation strategy
• D)loop-back strategy

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Definitions:

Dividends

Net profits, or surplus, set aside for shareholders.

Dissolution

A change in the relation of partners caused by any partner ceasing to be associated in the carrying on of the business.

Limited Liability Company

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Intellectual Property

A category of property that includes intangible creations of the human intellect, such as inventions, literary and artistic works, designs, and symbols, names and images used in commerce.