Corporate Compliance Plan
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Running Head: Corporate Compliance Plan
Corporate Compliance Plan
University of Phoenix
Tashia Thomas
June 20, 2010
The purpose for this paper is to create a corporate compliance plan for Riordan Manufacturing Virtual Organization. This plan will focus on the management of legal liabilities of the company’s officers and directors. This plan will discuss alternative dispute resolutions, enterprise and product liability, international law, and tangible and intellectual property. This plan will also discuss governance, prevention and management guidelines, enterprise risk, and laws that the company must adhere to.
ADR
Any disputes or complaints against the company will be settled using alternative dispute resolution (ADR). An ADR will allow the company to resolve issues without the use of an attorney and is quicker and less costly than a court hearing. The first ADR process the company will use is negotiation. This will allow the parties to voluntarily settle the issue and be able to continue to do business with each other. If an agreement cannot be reached and the matter can’t be resolved using negotiation the company will move on to mediation.
Mediation will be used in good faith to resolve any issue on an individual basis. Mediation will take place either in person, via email, or telephone conference. The parties involved in the mediation will be the director of both parties and the mediator. The mediator will be an agreed upon professional and the cost for that person will be split between the parties. The mediation process will not last more than 10 working days. The mediation agreement is will be considered an independent agreement and will be binding upon both parties only if both parties agree to be bound by the agreement.
In the event that the company is still unable to reach an agreement through mediation,
the parties shall move on to arbitration. The arbitration will be handled using a neutral, binding...
Corporate Compliance Plan
University of Phoenix
Tashia Thomas
June 20, 2010
The purpose for this paper is to create a corporate compliance plan for Riordan Manufacturing Virtual Organization. This plan will focus on the management of legal liabilities of the company’s officers and directors. This plan will discuss alternative dispute resolutions, enterprise and product liability, international law, and tangible and intellectual property. This plan will also discuss governance, prevention and management guidelines, enterprise risk, and laws that the company must adhere to.
ADR
Any disputes or complaints against the company will be settled using alternative dispute resolution (ADR). An ADR will allow the company to resolve issues without the use of an attorney and is quicker and less costly than a court hearing. The first ADR process the company will use is negotiation. This will allow the parties to voluntarily settle the issue and be able to continue to do business with each other. If an agreement cannot be reached and the matter can’t be resolved using negotiation the company will move on to mediation.
Mediation will be used in good faith to resolve any issue on an individual basis. Mediation will take place either in person, via email, or telephone conference. The parties involved in the mediation will be the director of both parties and the mediator. The mediator will be an agreed upon professional and the cost for that person will be split between the parties. The mediation process will not last more than 10 working days. The mediation agreement is will be considered an independent agreement and will be binding upon both parties only if both parties agree to be bound by the agreement.
In the event that the company is still unable to reach an agreement through mediation,
the parties shall move on to arbitration. The arbitration will be handled using a neutral, binding...