Entering into settlement negotiations means that the parties involved in a legal dispute are attempting to reach a mutually agreeable resolution outside of court. Settlement negotiations may occur before or during litigation, and involve both parties and their respective legal counsel.
During settlement negotiations, the parties may exchange offers and counteroffers to resolve the dispute. These offers may include financial compensation, changes in behavior or actions, or other forms of relief. The parties may also discuss the terms of the settlement, such as confidentiality, releases of liability, and any other conditions of the agreement.
It’s important to note that exchange of offers rarely happens without there being some substantive exchange of evidence in support of the claims and defenses being argued, and identifying the issues that are most important to each of the parties in order to find a mutually agreeable compromise.
The goal of settlement negotiations is to reach a mutually acceptable resolution that avoids the time, expense, and uncertainty of going to trial. If a settlement is reached, the parties will enter into a written settlement agreement that outlines the terms of the settlement and any actions required to fulfill those terms.
If the parties are unable to reach a settlement, the case may proceed to trial or other forms of alternative dispute resolution.
