If you’re involved in a lawsuit, you may wonder about settling the dispute before it moves forward. There are a number of good reasons to settle as well as reasons to litigate, so before making any decision, make sure you talk to your business litigation attorney about the specific facts of your case. However, as you’re thinking through your position, here are some things to consider.
- Financial and Emotional Cost of the Lawsuit: Going through a lawsuit can be a financial drain on you and your company as well as an emotional drain. Some types of lawsuits are fairly standard and look at specific kinds of evidence and move forward in a certain pattern. Others are much more open-ended and will take more resources from you and your team. Your attorney can help you determine the risks you face with a lawsuit, the likely path it will follow, and whether a settlement is a likely solution. There are also other paths such as alternative dispute resolution you and your attorney can consider.
- Risk of an Unfavorable Decision: The facts of your case, the current trends in the law, and many other local factors will go into your attorney’s calculation on the risk you face of an unfavorable decision. You can then consider those risks and decide whether you want to take or offer a settlement or whether you want to proceed to trial. Often it takes getting to the courthouse steps, and both parties being faced with the uncertainly that comes when strangers decide the outcome of their debate, to create an acceptable settlement arrangement.
- Risk of Public Trial: Depending on the topic of the litigation, you may not want to risk a public trial. You may want to avoid the publicity, you may want to ensure confidential information is kept secret, or you may want to have experts a complicated field reviewing the situation. In these cases, you may want to settle or look into other options such as mediation or arbitration.
- Goals of Litigation: You may have a variety of goals in bringing or defending a case and these goals need to be weighed when deciding whether to settle or continue litigation. Your goals may include being made whole by getting some money, gaining an injunction or change in behavior from another party, or another change in someone’s behavior or situation. A settlement can often be crafted in a way that meets some or all of your goals. In other situations, litigation may be the only viable path.
- Strength of your Case: The specific facts of your case, and the information available to support your position, can vary widely. Have an honest discussion with your attorney about the pros and cons of your case, the specific factors that fall in your favor, and those that don’t. It’s only with a clear view of reality that you can weigh the risks and determine the best path forward. A business attorney with significant experience litigating can help guide you and give you an accurate assessment.
If you’re considering a civil lawsuit or facing the threat of one from another party, the team from Dunn Law Firm can help you and your team review the specifics of your situation and determine the best course of action. Reach out to the Dunn Law Firm by calling (435) 628-5405 and set up a free consultation today.