Overview: At the outset of any business transaction, all parties hope that the relationship will be harmonious and will proceed without disruption or disputes. Unfortunately, though, disagreements about the meaning, effect, or performance of a contract sometimes defeat these expectations. A well drafted contract anticipates possible disagreements and provides mechanisms for resolving them The reading assignments for this week explain some of the options for dispute resolution, including negotiation, mediation, arbitration, and litigation. In the following assignment, you will draft dispute resolution provisions to be included in your New York-based client's market research services contract. You will also draft a clause specifying the substantive law to be applied in interpreting and enforcing the contract. Instructions: Your client, Research Professionals, Inc. (RPI), a New York-based company, provides market research services to corporate clients located around the world. Most of its projects are based in the United States and are for long-term clients. When a client hires RPI, the client and RPI enter into a Market Research Agreement (the Agreement) that details the scope of the project and the timeline for completion of the project. Based on the information presented, draft a dispute resolution provision and governing law provision that you think would best suit RPI's needs. As a model, you can use any forms in the textbook or any other forms you find online. Please briefly explain the reasons behind your choice of dispute resolution provision. Consider looking up provisions on: Practical Law (Westlaw) lawinsider.com