How To Negotiate A Settlement To A Lawsuit

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.

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.

Reference:

Mediation Tips

 

 

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