How to Achieve a Favorable Settlement
Business and Commercial Disputes By Binnall Law Group - 2021/03/31 at 01:31pm
Let a Skilled Alexandria Business Dispute Attorney Handle Your Case
The large majority of cases are settled well before trial litigation. In fact, some industry observers estimate that up to 95 percent of cases settle before trial.
Settlement is generally seen as a net positive for both parties. Business litigation is inherently an uncertain process — there is a chance that the court will rule against you. Alternatively, the jury may award damages that are not in keeping with your expectations.
To minimize this uncertainty, parties may choose to settle the case instead. This also avoids a lengthy litigation process and therefore keeps costs at a minimum.
Settlement is not necessarily simple, however. Determining a fair settlement amount (and pushing for it) requires careful advocacy and a comprehensive understanding of the case at hand.
Let’s take a brief look at how to achieve a favorable settlement.
Likelihood of Success at Trial — the Core Question
When parties settle a matter, they choose a “number” based on their understanding of risk and uncertainty. Put simply, the settlement amount is calculated based on the likelihood that the plaintiff will be successful in achieving their demands if the case were to proceed all the way to trial.
This might seem a bit confusing, so we’ll clarify with a quick example.
Suppose that you are suing another business for violating a contract. You are claiming damages of $500,000. Based on the facts, however, both you and the defendant seem to agree that while your damages are well-supported by the evidence, you have only a 50 percent chance of success at trial (perhaps due to differing interpretations of a statute). As such, the true value of your claim is $250,000, given the uncertainty associated with litigation.
You could ostensibly settle for that amount and avoid the costs and frustration of extensive litigation — but what if you are trying to push for more?
Plaintiffs can achieve a more favorable settlement by introducing evidence and legal arguments that improve the likelihood that they will “win” at trial (and be awarded the damages they are claiming). For example, if a plaintiff introduces substantial evidence to the point where the defendant concedes that they are liable, that will raise the settlement amount, as there is less uncertainty should the case proceed to trial.
Contact an Alexandria Business Dispute Attorney at Binnall Law Group for Help
Here at Binnall Law Group, our attorneys boast decades of experience helping clients with a wide range of legal issues, from contract disputes to business torts and beyond. We regularly assist clients in navigating the complications of litigation, at every phase — and are experienced in handling early negotiations, often settling a case before it ever proceeds to courtroom litigation.
Of course, if the opposition is hostile and settlement is unlikely, we are equipped to take a case to trial, if necessary.
We understand that every case is different. To that end, we work closely with our clients to ensure that we are representing their interests in a more personalized manner. Thanks to this close working relationship, we gain key insight into the case at hand and are able to develop a highly specific strategic plan.
Ready to speak to an experienced Alexandria business dispute attorney at our firm? Call us at 703-888-1943 or complete an online intake form to schedule a consultation.