Big Ideas Pte. Ltd. (a private enterprise) and Innovation Culture Ltd. (a government-linked company which is listed on the stock exchange) are two businesses that are collaborating on a new robotic assistive technology that will help people to lift heavy loads with minimal risk of injury. They have entered into a collaboration contract that provides, among other things, for the two companies to share the profits generated from the collaboration on an equal distribution (i.e. 50%-50%) basis. Under the contract, Big Ideas is responsible for coordinating the research and development aspects, while Innovation Culture is responsible for commercializing the products and getting it to market. The technology turned out to be a commercial success, and the sales of the products were phenomenal. However, when Big Ideas received its share of the profits from Innovation Culture, the receipts were less than what their management expected. The Finance Director of Big Ideas spoke to his counterpart from Innovation Culture, who replied curtly that profits were greatly reduced due to the large expenses incurred for advertising and promotion. The management of Big Ideas did not entirely believe Innovation Culture, and they held an internal meeting to discuss the next steps, including the possibility of commencing legal proceedings against Innovation Culture. (a) Discuss the concept of the rule of law, and explain how it can promote business activity, using the above scenario to illustrate your discussion. (5 marks) (b) Describe briefly the different stages of the litigation process, stating clearly the role of Big Ideas at each stage if it was the party commencing the litigation. (6 marks) (c) Compare and contrast the features of mediation and arbitration as compared to litigation. Recommend one of the dispute resolution methods to the management of Big Ideas, giving reasons for your views. (14 marks)