Riordan Manufacturing Inc. Essay

2941 Words Mar 30th, 2014 12 Pages
Riordan Manufacturing, Inc. (Riordan) is an innovative and evolving company that seeks to continue its impressive growth sense the inception of the company. As Riordan continues to grow and adapt to an ever changing economic environment, it must be careful not to be a victim of its own success. Having established plants in various states, and even one in China, Riordan must be aware of the legal ramifications of its decisions. Neglecting to understand the legal process of its actions has the potential to hurt Riordan’s employees, stockholders, and the company itself. Riordan has the opportunity to use existing legal business contexts to help mold and shape its decisions in a way that are beneficial to everyone. The various complexities of …show more content…
One of the best attributes associated with ADRs is that they are quite versatile in adapting to an array of problems. This may be their most effective attribute for a large company such as Riordan. Riordan runs plants in a variety of states, and one in China which increases the business relationship it will develop to run business effectively. Arbitration Arbitration will serve as a useful tool for Riordan when handling disputes that may arise. “In arbitration, the parties choose an impartial third party to hear and decide the dispute. This neutral party is called the arbitrator” (Cheeseman, 2010, p. 44). Arbitration assists in a time efficient and economically feasible way to solving disputes. Congress has recognized arbitration as a useful tool for solving business disputes that may arise between parties. The Federal Arbitration Act (FAA) was initially enacted in 1925 to enforce the decisions of arbitration dispute resolutions, and has the full backing of the Supreme Court. The Supreme Court has stated, “By agreeing to arbitrate a statutory claim, a party does not forgo the substantive rights afforded by the statute, it only submits to their resolution in an arbitral, rather than a judicial, forum” (Gilmer v. Interstate/Johnson Lane Corporation, 500 U.S. 20, 111 S.Ct. 1647, 114 L.Ed.2d 26, Web 1991 U.S. Lexis 2529 (Supreme Court of the United States) as referenced by (Cheeseman, 2010, pg. 44). International Law Riordan has

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