The rapid development of new technologies and processes in sectors such as pharmaceuticals, biotechnology, life sciences, aerospace, energy, telecommunications, and information technology has led to an exponential increase in the number of patents and trademarks issued and domain name registrations around the globe. The increase is unlikely to slow with ongoing events like the COVID-19 pandemic, the fourth industrial revolution, and the scramble to address climate change—all of which are driving further innovation.

To harness and capitalize on these advances, many companies and governments are seeking strategic partnerships with international business partners (both public and private), particularly in emerging markets. Business arrangements are increasingly cross-border and complex, often involving multiple parties in high-value, long-term arrangements. Because intellectual property (IP) is often an important asset in many of those arrangements, the transaction documents often include provisions addressing the use of IP, such as licensing, cooperation, or technology transfer agreements. In most cases, these seek to protect IP rights across a number of jurisdictions. With IP disputes common, companies and governments should make sure to choose the right dispute resolution mechanism.