Settle or go to trial? This is often one of the most important decisions in any business lawsuit. To further complicate the issue, there are generally advantages and disadvantages to both options.
Even in the best of circumstances, all litigation involves a certain amount of risk and uncertainty. To make sure everyone understands what is at stake, it is important that the client and their business attorney work together to decide which path is most beneficial.
Below are a few key factors often considered:
- To negotiate a settlement, both parties must make concessions. Results at trial are not guaranteed, so settlement may be the best way to ensure a favorable result.
- During litigation, a third party will decide the dispute; in comparison, the parties have complete control over a settlement agreement.
- A settlement may represent the most practical resolution to a business dispute. For example, settlement may be more cost-effective and will almost always take less time than a trial.
- Settlements can be structured to ensure that the dispute is resolved out of the public spotlight. Conversely, court documents are generally public records.
- Settlements allow the parties to pursue more creative solutions, whereas courts can be handicapped by statutes and legal precedent.
How We Can Help
While our business attorneys strongly advocate negotiation, we are also always prepared to go to trial and will vigorously defend the rights of our clients. If you are facing a business dispute, contact us today.