One of my cases settled recently. The parties agreed to mediate their dispute using a private mediator. Like many of my cases, there was deep seated animosity between the litigants, which made the prospects for settlement more difficult. The mediation occurred over the period of several days and ultimately a settlement was reached. Here are two observations that are almost always true in business litigation settlements:
- A settlement involves compromise. Unless both sides are willing to compromise, settlements rarely happen.
- When all is said and done, parties to a settlement were usually much closer to resolution than they realized at the outset. The key is committing to the mediation process and allowing it to unfold.
Happy Independence Day to all!