“Is Sri Lanka falling behind on arbitrating IP?”

Traditionally, disputes concerning IP rights are mainly heard before national courts. Nevertheless, in recent years there has been a significant shift towards arbitration. For example, the number of cases decided under the WIPO Arbitration and Mediation Rules is constantly increasing and the number of specific IP-related arbitral institutions is rising as well. This can be partially attributed to the territorially limited scope of state court proceedings that no longer meet the requirements of current international economic processes. The move towards arbitration is a logical shift because, arbitration is especially suitable as a more effective process in resolving IP disputes. Arbitration is a confidential proceeding, which is particularly advantageous for IP cases owing to the sensitive nature of the data involved. In addition, specialist knowledge is often required to resolve technical disputes efficiently, a difficulty that can be addressed by appointing suitably qualified arbitrators. There are crucial questions we must ask with regards to the future of arbitration and its role in IP dispute resolution. What do trends show and where are arbitration professionals focusing their efforts? Can arbitration keep pace with innovation and technological advancements? What advantages will we see in arbitration compared to other methods of dispute resolution? What does the future hold for IP arbitration?