Assessment of the Specialized Business Court That Continues To Take Hold
More than 15 states have put into effect a specialized business court or are currently considering adopting a court specially made to resolve business matters or cases involving litigation. The Idea of specialized courts began in the Delaware Court of Chancery in 1792 and a few centuries later in 1993 located in Illinois and New York. These specific courts only held commercial cases. As of today, the idea that once started in these three key states has created a trend for specialized courts that deal with business matters only. The typical specialized court includes a specific set of judges assigned to hear complex commercial cases with only one judge handling the case from beginning to end. Prior to this idea of the specialized courts, many judges who did not have the knowledge of commercial business would take the cases. When the judges would fail to hear the case from beginning to end, the attorney would have to re-educate each judge about the matter at hand and this can become all too unproficient. Many believe that this type of court system is good for lawyers and business litigants alike. In these type of specialized courts, parties who might lose can be confident in the fact that they are actually getting a knowledgeable decision, which creates predictability and dependability in the quality of decision – making. The biggest accomplishment that has come from the courts is predictability, and through this, lawyers can better equip their clients for the progress, outcome, and cost of their case. Also, the specialized court is noticed for it’s efficiency for the mere reason that the judges carry smaller case loads, allowing them to put a good amount of time and thought for a complex issue at hand. Overall, settlements are positively impacted by the courts through the judge who are better equipped of the issues of the settlement and better at facilitating settlement talks.