arbitration
ahr-buh-TRAY-shuhn
Definition
The formal process of settling a legal or contractual dispute through an impartial third party rather than through the court system.
Etymology
The word originates from the Latin 'arbitratio,' which refers to the judgment or decision of an arbiter. It entered Middle English through Old French, maintaining its meaning related to the power of settling a dispute.
In the news
The article describes how Prime Medicine won a favorable arbitration decision against Beam Therapeutics, which clarified legal rights over a therapy and confirmed they owed no damages. This ruling was significant because it cleared potential legal obstacles for the company's research pipeline.
BMO initiates Prime Medicine stock with outperform rating By Investing.com
Read the full article ↗Investing.com Canada