When to Settle Litigation
When you are locked in litigation with a foe, one of the most important things to determine is when the time is appropriate to settle litigation, even if it means compromising your overall claim. When you first file a complaint and start a lawsuit against someone or when you’re first sued, it’s easy to become extreme and say that you’re going to fight to the bitter end no matter the cost! Reality usually sets in fairly quickly, however, as legal bills, costs, and the emotional toll of litigation begin to make you reconsider. There are several factors that you should consider in determining how far to push your lawsuit.
One factor is the overall amount involved. In lawsuits over small amounts of money, it’s best to decide right up front how much you’re willing to walk away with without having to spend a fortune on the costs that are associated with litigating. One of the reasons this is so important is because litigation ultimately acts sort of like a poker game. The more cards that are revealed, the more you know as to whether you have a strong hand. Furthermore, at the end of the hand, you may be faced with an all-or-nothing proposition.
Will the jury buy your theory of the case, or will they buy your opponent’s? When you factor in the likelihood of winning or losing a suit, settling a case can eliminate the uncertainty and avoid much of the costs.
As noted above, the other thing to think about is the emotional strain of litigation. Is this a mere business dispute in which you’re not personally or emotionally invested? Are you part of a large corporation making business decisions and it doesn’t affect your personal life if you have to go and testify in a deposition? Or is this dispute between you and your long-time business partner that has torn your two formerly-close families apart? Would you prefer reconciliation over the money at issue?
There is a cost to litigation that goes far beyond what can be measured in dollars and cents, and it is important to take that into consideration when deciding when to settle.
Your Best Interest Matters to Us
When we represent clients in litigation, we seek to represent their best interests. This means that you are always in the driver’s seat to decide when to settle and when to push forward. It also means that we’re willing to settle early for you, even if it means we’re not going to make as much money in the case. We seek to have your best interests at heart at all times.
If you have questions about your lawsuit, whether it’s ongoing or merely one that you’re considering bringing, call the Cornerstone Law Firm today, and let us discuss with you how we can represent your best interests.