Riordan Corporate Compliance Plan

Introduction

Riordan is a fortune 1000 enterprise that has much interest to protect. The organization needs a corporate compliance plan in place to keeps its international customer trust and tegrity in the plastic injection molding industry. Riordan has a mission to be a problem solver for its customers: not part of its customers’ problem. In order to continue to grow to new levels, a corporate compliance plan has to be in place to protect the organization, its five hundred and some employees, and its customers from unfortunate happenings. The following information will prepare a corporate compliance plan for the organization. Areas of planning will be alternative dispute resolution, enterprise and product liability, international law, tangible and intellectual property, legal forms of business, and governance. These main areas of a compliance plan will be created to help Riordan’s managers keep the organizational mission within reach. The first area to be created will be an alternative dispute resolution plan.

Alternative Dispute Resolution Plan

Riordan will adopt the alternative dispute resolution (ADR) techniques to attempt to settle all disputes that may arise in its course of business. ADR is a method of settling disputes without the use of the already overwhelmed court systems. ADR uses mediation and arbitration to avoid the expense and time in a court case. Using mediation and/or arbitration will allow a third party to come in and help settle the dispute.

Mediation is a process in which both sides meet with a neutral party (mediator) to explain their side of the dispute. The mediator will not make any decisions in the dispute: just help the two parties try to settle the differences. The dispute will be binding if both sides agree to a binding settlement. If the mediator is unsuccessful in this process, then arbitration begins with the use of an arbitrator.

An arbitrator will make a decision in which both sides of the dispute will classify as a binding...