Reed Smith partner J.P. Duffy has been selected to co-chair a new subcommittee of the United States Council for International Business (USCIB) - the ‘Life Sciences Arbitration Task Force’.
Duffy will work with co-chair Hagit Elul to lead the task force in studying the circumstances and decision-making of life science companies when determining their preferred method of dispute resolution and, in particular, their reasons for and against choosing international arbitration.
The key goals of the subcommittee will be to evaluate the current dispute resolution clauses used by life science companies in commercial agreements and evaluate how international arbitration can play a more prominent role in solving these disputes within the industry.
The work output of the subcommittee will further consider how institutional arbitration providers could meet the often cross-border need of disputes in this industry. This will be achieved by suggesting potential arbitration clause language that could assist companies in their contractual agreements, while reducing the risk of dispute over topics such as clause scope.
This work falls into the wider efforts of the USCIB to promote and engage American business in global markets and key intergovernmental bodies worldwide, with the USCIB originally being created in 1945 to assist and represent American business interests in the United Nations. Duffy will help achieve the USCIB's goals to continue to strive to expand market access for U.S. products and services in the international arena.
In addition, Duffy will form part of the mediation subcommittee, which will focus on expanding the awareness of the benefits and opportunities of mediation in relation to cross-border disputes. The goals of this subcommittee are to be a center for thought leadership and to examine and evolve its objectives and aspirations in the face of the increased role of mediation as a key component of international dispute resolution.
Original source can be found here.