By Edward Thomas

The civil justice system is a cornerstone of our modern society. It helps citizens identify and resolve legal disputes, most often with the help of a jury of their peers. As an experienced commercial litigator, I understand and appreciate that business owners want to retain lawyers with specialized experience in contract law to handle contract disputes or a lawyer who understands the nuances of corporate law to handle its shareholder or partnership disputes. Based on the premise that experience leads to better results, businesses across Indiana will soon have the option of filing cases before judges with specialized experience and expertise in the precise areas of law that are at issue in their next business dispute.

Over the past 20 years, “commercial” or “business” courts have been created and developed in many state trial court civil systems across the country. Commercial courts were first established in the United States in 1993 and now exist in 27 states. These courts exclusively handle dockets, with one or more designated judges, primarily designed to provide timely and well-reasoned case management and disposition of: (1) commercial disputes between businesses; and/or (2) internal disputes over the management and control of business entities.

The State of Indiana indicated its intention to join the growing trend during the State of the Judiciary in January 2015. Thereafter, the Indiana Supreme Court established the Indiana Commercial Court Working Group for the purpose of recommending policies and procedures for the implementation of these specialized courts. Indiana will have six judges authorized to preside over commercial courts in various counties across the state, including Allen, Elkhart, Floyd, Lake, Marion and Vanderburgh counties. These courts will begin accepting cases on June 1, 2016; however, pending cases will not be transferred.

Commercial courts are designed to promote efficient resolution of business disputes by reducing litigation costs and promoting earlier and more frequent settlement of cases. The establishment of these specialized courts will assist in promoting confidence and predictability, helping to ensure the overall competitiveness of Indiana’s business environment. Additionally, I suspect implementation of the commercial courts will assist in easing the strain of many civil courts across the state by removing time-consuming business cases from their dockets.

The commercial court phenomenon arose because business litigants and their attorneys wanted to avoid court — more specifically, state trial courts. In the early 1990s, commercial litigants’ frustrations were at an all-time high in New York City and Chicago, among other places. Unlike federal courts, cases were docketed on master calendar systems, which allowed the possibility of multiple judges handling different aspects of commercial and business disputes. Many believed, whether true or not, this led to an unpredictable, uninformed and unreliable process. One former North Carolina business court judge who retired in 2011 observed that the growth of modern business courts corresponds to “the rapidly increasing complexity, rate of change and globalization of business, which has driven the demand for dispute resolution processes that can accommodate the needs of modern business.”

Many commercial and business law cases require substantial resources, such as knowledge and expertise, because the cases present unique legal issues that are both substantive and procedural. The more unique or precise the substantive law involved in a case, the more time is required by the judge to learn about and rule on the issues involved. Thus, grouping cases within a certain substantive area of the law reduces the costs associated with the “learning curve” and promotes efficiency. For instance, parties with specialized complaints, such as fraudulent securities offerings or derivative shareholder suits, not only seek access to a court, but also to a court with experience and expertise within the substantive body of law. Business courts staffed by trained and experienced judges provide the parties access to a court equipped to competently address their unique substantive and procedural needs.

Pooling judicial resources so a small group of judges handle all business disputes across the state should promote consistent application and interpretations of the law. Business court judges, trained in the substantive areas of law, should produce consistent and accurate decisions. In other words, the law should be applied to the cases in a business court in a uniform, fair and predictable manner. Proponents of business courts advance the theory that judicial familiarity with commercial and business law, combined with adequate resources — judicial hours, adequate staff and reduced caseloads — to oversee such complex cases, will yield more predictable results. Predictable results means consistently enforced laws, a cohesive approach to Indiana’s business organization statutes and careful attention to the record of the case.

Indiana’s commercial court program will not only improve the efficiency of decision making and the facilitation of business-related disputes, but also the courts should engender greater trust and respect for the process while positively impacting Indiana’s economic health.

Edward Thomas is an associate in Lewis Wagner’s business litigation practice group, where he concentrates his practice in complex business and commercial litigation in state and federal court, including UCC, shareholder, partnership and LLC disputes. Thomas is one of 14 commissioners appointed by the governor to serve on the Indiana Business Law Survey Commission, which provides recommendations to the General Assembly concerning laws that impact Indiana businesses.

By Sharon Mallory

Many people think the stock market is a place where you invest in large businesses or risky tech stocks. These companies are usually located in states or countries far from your community, and rarely do you feel connected with them in a personal way. However, because of the return they may provide, you may feel this is the only way to invest your dollars.

But there are many companies that provide the opportunity to invest in socially conscious movements and earn a return on your investment as well. What does “socially conscious” mean? It means investing in companies that benefit your local community or larger global community and are in accordance with your personal beliefs and convictions.

INVESTING IS WHERE THE HEART IS

Investing in a socially conscious business could mean investing in environmental or fair trade companies, or those championing human rights. Maybe you are passionate about protecting wildlife or promoting healthy diet and exercise for young people. Whatever your area of interest and moral or ethical position, you may be able to find a company that supports your position either through the products they make, their location or their corporate mission.

INVESTING WITH ENTREPRNUERS 

Do you know of a local entrepreneur that is creating jobs in your community or taking time to work with youth, seniors or other groups and vendors to help them realize their dreams as well? When you partner with others locally or get to own shares in companies that are trying to succeed by doing the kinds of things you want to see done in your neighborhood, you have a chance to reap both financial rewards and personal satisfaction.

You can also invest in smaller companies outside your neighborhood that have a direct impact on the community you live in. Like many stock funds that have been created to specifically cater to the needs of people who want to play the market without compromising their own personal values, the creation of well-thought-out and planned smaller businesses just might give you the return on your money that you can see and feel.

INVESTING IN EXCHANGE TRADED FUNDS (ETFs) AND MUTUAL FUNDS

ETFs and mutual funds are a great way to delve into the socially conscious side of Wall Street. These are not single stocks, but groups of stocks that are managed by trained professionals in most cases. When you buy an ETF or share in a mutual fund, you are essentially allowing the fund’s manager to invest in funds that he or she thinks will do well and meet your investment goals. Because most funds value diversity of assets, they are somewhat protected from the risk of only owning shares of an isolated company.

However, I can’t stress enough that it is imperative that you do some background research to find out which local companies or funds meet your standards. Whatever you decide, take time to learn more, talk to a knowledgeable registered investment advisor in your community and schedule an appointment to have a candid conversation on your investment interest. You’ll be glad you did!

Sharon Mallory is the CEO of SDM Investments LLC, a registered investment advisory firm (RIA) in Merrillville, Indiana, and Chicago. Mallory is responsible for defining and maintaining the direction of the firm and ensuring clients’ financial planning needs are being met at the highest level of fiduciary responsibility. For more information, visit sdminvestments.com or call (888) 988-0858.

By Thresette Briggs

Today’s human resource department is much different than the personnel department of long ago, when it was once relegated to more administrative work in addition to hiring and firing employees.

Now, more than ever, businesses are seeing the value human resource leaders can bring to the table. Today’s human resource professionals are seen more as strategic business partners, helping to set company goals and establish partnerships to achieve them. As the field has changed, so have the people who work in it.

Women now hold 70 percent of the human resource jobs, according to Forbes. Other research supports that number. Research from the United States Office of Personnel Management showed that, in 1969, women occupied 30 percent of the jobs in human resources. By 1998, the numbers were flipped: Men held 29 percent of those jobs, and women held 71 percent. Similar research from the Society for Human Resource Management also has revealed similar numbers.

In my experience working with large companies and organizations, there have always been more women than men in human resources. And my experience in teaching human resource courses for the past six years has supported that, as I’ve seen more women than men in my classrooms. I think the reason could be the competencies that are required of today’s human resource professionals. While human resources is no longer just a tactical “hire and fire” field that administers benefits and payroll, the competencies it often requires — nurturing and developing talent, collaboration, building teams and a high degree of emotional intelligence — are often thought of as occurring more naturally in women. But there are other competencies required for the future that people in human resource need to have — such as strategic positioner, change champion, credible activist, capacity builder and integrator and innovator — that make great human resource leaders.

In my experience, not only could there be more men in human resource, but overall diversity could be improved, including race and other diversity dimensions. From what I have seen in my classes, there is a shortage of men interested in the field, although there’s no shortage of minorities interested. Awareness of this is really key, because building a diverse human resource department is important to building a diverse workforce. And while gender and race diversity can be improved in human resource, they, along with other diversity dimensions, could be improved in almost every area of most organizations.

Human resource and diversity leaders are important to the health of an organization, because they help build a culture that supports inclusion of differing people, viewpoints and perspectives. This leads to healthier, more innovative strategy development and progress that supports company growth. After all, if everyone is the same and has the same ideas, there is no energy to fuel change. That is not how a company grows, changes and becomes more successful.

Companies also need to make sure their workforce — in the human resource department and throughout — reflects its customer base. In other words, an organization needs to look like its customers, to the extent that is possible. If a company sells shoes to a certain demographic, then the company should have employees who are similar to that demographic. The customers are then more likely to see the company as credible and believe it is walking the “diversity” talk.

Continuous improvement in the human resource department requires a strong diversity commitment from top leadership to attract, retain and promote the best. So it’s critical that human resource and diversity leaders are engaged in developing recruiting and selection strategies to attract diverse talent. And doing so might include

using a wide range of sources that haven’t been tried. But again, it will take commitment from that company. In the end, it could also help increase the population of men in human resources, bringing even more balance to the team.

The great thing is there has never been a better time to work in human resources. The challenges are high — with a shortage of skilled workers, an aging baby boomer workforce, an increasing number of millennials in the workforce and generation Z entering the workforce, as well as the high cost of health care all stressing companies. Yet smart companies recognize that human resource professionals can help with those challenges through strategic planning, change leadership and leadership and talent development strategies. That’s when human resource professionals need to be at the table.

Individuals who want to be that human resource leader with the competencies required today should consider the opportunities that exist in human resources. They will definitely have the chance to use them, develop professionally and, therefore, advance at faster rates. That is, of course, if the companies bring them to the table and provide opportunities for them to use the competencies. And, conversely, human resource professionals should not wait to be asked to the table. They should take the initiative to ask other leaders in the organization what it is they need from them. They should start the dialogue and collaborate as much as possible.

Thresette Briggs, MBA, SHRM-SCP, DDI, CPS, is an adjunct professor in the College of Adult and Professional Studies at Indiana Wesleyan University, where she teaches classes in business and human resource in the DeVoe School of Business. She is also president of Performance 3 LLC, a management consulting firm that provides coaching, speaking and training services to help global talent achieve high performance.