For large companies and ultra-high-net-worth individuals, disputes are an inevitable feature of doing business. According to the Litigation Trends Annual Survey, published by Norton Rose Fulbright, US companies now spend $1.2m on disputes per $1bn of annual revenue. Add in the growth of non-US companies involved in disputes and tens of billions of dollars are being spent worldwide in resolving them. Where those disputes are resolved, and in what form, is evolving in line with the global economy – as economic power shifts eastwards, so does the volume of disputes.
Despite this trend, which is underpinned by intense competition from rival dispute resolution centres in Asia, London continues to be the world’s most favoured international disputes destination – at least for now. As rival jurisdictions seize the opportunity to increase their share, the battle for business shows no sign of abating.