908-679-5011
Navigating Settlement Negotiations in Commercial Litigation
Most commercial litigation cases will ultimately result in a settlement between the parties. This is a relief for the litigants, as they have too much risk and legal exposure to leave the case’s outcome to a judge or jury. A settlement allows both parties to exert some degree of control over the case’s outcome, providing a sense of relief and hope. Both parties get something, as opposed to winning and losing. Thus, it is practical for the litigants to explore the potential for a settlement agreement during the lead-up to a trial.
Commercial litigation cases often take years in the court system from start to finish. From the initial complaint through the discovery process, there may be endless motions and court filings to prepare the case for the point where it may reach a hearing. There may be natural points where it makes sense to discuss a settlement.
Knowing that the parties may be starting far apart in settlement negotiations is important. In the initial negotiations, parties often state their position and suggest an agreement that is relatively close to what they are seeking in court.
Engaging in Settlement Negotiations
Your attorney will represent you in settlement negotiations. They will talk to and possibly even sit down with the other party’s lawyer to negotiate. If you are nearing an agreement, you may also be present in the negotiations. You will work closely with your attorney throughout the process so they can effectively represent you.
Anything you discuss in a settlement negotiation is not admissible as evidence at trial. Therefore, you do not have to worry that you are considering settling the case, which could be used against you at trial. If you attempt to negotiate a settlement and do not reach an agreement, you will proceed to trial as you were anyway. When discussing a settlement, you must remain open-minded and willing to compromise.
The New Jersey Commercial Litigation Attorneys at Herold Law, P.A. Will Help You With a Settlement
The New Jersey commercial litigation attorneys at Herold Law, P.A. can represent you throughout a lawsuit, providing you with common-sense legal advice and effective representation. You must contact an attorney early in the litigation process, perhaps even before a lawsuit is filed. The first step to getting legal help is to call us today at 908-679-5011 or contact us online. Our office is in Warren, New Jersey, and we work with clients in Somerville, Morristown, and across the state.
