Governor Kevin Stitt has continued his push towards a more business friendly Oklahoma. A large part of his plan involves establishing a specialized Business Court System in Oklahoma. This initiative aims to streamline the resolution of complex commercial disputes, making Oklahoma a more attractive destination for businesses.
What are the key objectives of a Business Court System?
The proposed system draws inspiration from similar courts in Delaware and Texas, focusing on three primary objectives:
- Handling business-to-business disputes with greater efficiency
- Reducing frivolous lawsuits that can burden businesses
- Employing judges with expertise in commercial law to ensure informed decision-making
By achieving these objectives, the Business Court System seeks to provide a more effective and efficient platform for resolving commercial disputes. This, in turn, will help to reduce the time and costs associated with litigation, making it easier for businesses to operate and thrive in Oklahoma.
What are the benefits of a specialized Business Court System?
A specialized Business Court System will bring several benefits to Oklahoma’s business community, including a faster resolution of cases, reducing the time and costs associated with litigation as well as increased confidence in the judicial system, as judges with expertise in commercial law will be better equipped to handle complex business disputes.
When will Oklahoma begin to use the Business Court System?
Governor Stitt created a task for to analyze the implementation and impact of a specialized Business Court System in Oklahoma during his last legislative session. Although an exact date is not yet available, Governor Stitt has stated a goal of implementing the system by 2026 and continues to emphasize that this initiative is part of a broader effort to make Oklahoma the most business-friendly state in the nation. As the system takes shape, it will be important to monitor its progress and assess its impact on business litigation matters within Oklahoma.