If you are able to negotiate a settlement to a lawsuit, you can save both time and money. Although it can be difficult to negotiate a settlement to a lawsuit and even though the process may not move quickly, settling out of court is usually preferable to taking a case to trial.
- Know your case inside and out. Before you negotiate a settlement to a lawsuit, understand both the strengths and weaknesses of your case. Knowing what points the other party will bring up during negotiations will make it easier to counter those points.
- Think about what you want from a settlement. Before sitting down with the other parties to negotiate a settlement to a lawsuit, think about your desired outcome. Consider both monetary and logistical issues and write down your bottom line before beginning formal negotiations.
- Give the other party a written proposal. Once you have come up with ideas for what you would like to see in the lawsuit settlement, write down these terms in a formal document. Present this proposed settlement to the other parties to the case and use it as a basis for your negotiations.
- Be reasonable. To successfully negotiate a settlement to a lawsuit, you will need to act reasonably and be willing to make concessions to the opposing party.
- Take time to think about a settlement offer before accepting or declining. If the other party offers a reasonable proposal, don't be afraid to ask for a few days to think things over. Successfully negotiating a settlement to a lawsuit isn't something that will happen overnight.
- Hire a third-party mediator. Lawsuits can be emotionally intense and having a neutral third-party present to keep the discussion on topic can make it easier to negotiate a settlement to a lawsuit.
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