Once a complaint has been filed, is a lawsuit the only option? Civil actions can be settled immediately after the complaint is filed, on the steps of the courthouse just before the trial or at any time in between. In fact, some cases are settled while the jury deliberates. The discovery process often facilitates implementation. Once the discovery is complete, the parties are in a better position to understand the strengths and weaknesses of the other. Litigation is long and costly, and settlement can be in the financial interest of either party. Defendants must consider the likelihood of not only losing, but also losing. Applicants must consider the costs and likelihood of forfeiture of a judgment. Settlement negotiations can take place informally during discussions between lawyers or more formally during mediation. Which people end up in the jury box and get the power to decide your fate? They think like you? Have they had life experiences that are different from you? Do the jurors think like the other party? Is your previous experience similar to that of your opponent? In addition, the dynamics and uncertainty of the courtroom mean that trials rarely take place as lawyers or parties have written in their minds. Transaction negotiations allow the parties to keep control of their fate. It is often said that with a good colony, no one goes happy. Is the hope of catching these two birds in the bush really better than the hope of your hand? Both parties can be well served by using creative solutions to settle business….
(Last Updated On: September 15, 2021)