Abstract:

The expansion of economy and globalization has led to increase in cross border investment and trade relationships between investors, states and business person, as a result of which disputes pertaining to intellectual property rights and other issues of commercial nature are arising between the parties. International Commercial Arbitration has therefore become the most preferred method of dispute resolution, as it provides for amicable dispute resolution by providing party autonomy and at the same time, maintains the harmonious future relationship between the parties. It also provides for enforceability of awards for the parties which are signatory to New York convention and neutral forum with expert opinion for dispute resolution. The arbitration enables to promote speedy redressal as it considers various issues like public policy pertaining to the enforcement of award, integrity of statutory laws and maintaining its virtues of efficiency and confidentiality. International Commercial Arbitration provides for a great scope in resolving IPR disputes but often face issues pertaining to state jurisdiction, therefore parties must be careful in drafting arbitration agreement pertaining to substantive and procedural laws and court intervention in dispute resolution.

Keywords: