What is the common governing law?
Frequency/market practice: Jurisdiction is usually related to the location of the parties. Where silent, the governing law depends on a number of factors, including the jurisdiction in which the agreement was signed.
Is litigation or arbitration more common? If arbitration, where?
Frequency/market practice: Litigation is generally more common; however, alternative dispute resolution provisions are included in approximately one-quarter of deals. Where those provisions were included, binding arbitration is predominant.