Effective dispute resolution is essential for several reasons:
It ensures the protection of intellectual property and encourages innovation by providing a clear framework for resolving IP conflicts. It promotes compliance with regulations and standards, minimizing legal risks and fostering public trust in nanotechnology. It helps maintain business relationships by providing mechanisms to address and resolve contractual disagreements amicably. It addresses public and environmental safety concerns, ensuring that nanotechnological advancements do not pose undue risks.
