Mediation: an alternative dispute resolution method that boards should adopt
It is not on the radar of many company executives, but it is often a more cost-effective and productive way to resolve legal disputes
Add BT as a preferred source
LEGAL costs for companies and their boards are on the rise.
The 2015 SID-SGX Board of Directors' Survey found that 80 per cent of boards polled had sought external legal advice compared to just 38 per cent two years previously. It also found that boards place the most reliance on external legal advice compared to other forms of professional advice.
As business becomes more complex and companies expand ever outwards beyond Singapore, this high reliance on legal advisers is expected to continue, particularly as an increasing proportion of legal costs is spent on resolving disputes.
Copyright SPH Media. All rights reserved.
