A large number of lawsuits settle before they get to trial. A settlement involves give-and-take on both sides, as the parties come to a resolution that is acceptable to both sides. During the settlement and negotiation process, emotions can run high and neither side ends up with 100% of what they were asking for at the beginning. After leaving such an emotionally charged situation, it can be hard to feel like you have won.
One way to overcome the natural tendency to see failure is to define early in the process what a “win” looks like to you. That definition will be different in each individual case and with each individual party. Sit down with your attorney before entering the negotiations and discuss what you can live with and what your bottom line is. Discuss with your attorney the strategy to get as much over your bottom-line as possible.
Before you begin negotiating, you will need to pick a specific outcome or dollar figure that you can truly be happy with. If you can be happy with that outcome – call it a “win.” Anything you get which is more than that is icing on the proverbial cake. But, if you cannot live with that result, then perhaps you need to reevaluate what your bottom-line is so that it is more in line with what you could be happy with.
After you have defined your “win,” the harder part becomes remembering that definition. Write down your pre-defined “win” and keep it somewhere that you can privately refer to during the negotiation. The negotiation could be a long and emotionally tiring battle, and your attorney will do most of the heavy-lifting. But, the ultimate decision of whether to accept or reject an offer resides with you. It is important to remind yourself of your definition of a “win” as you evaluate the offers.
At the end of the negotiation, before accepting or rejecting the final offer, look again at your written definition of a “win.” Does that final offer fit with your definition? If it does, and you cannot get them to offer anything more, then accept that offer and do your happy dance! You have already defined it as a “win,” so now it is time to celebrate. If the final offer does not fit your definition of a “win,” then you need to decide if it is time to reevaluate your definition or if you should reject it.
Having an experienced attorney is important as you navigate the emotional rollercoaster of negotiation. The experienced trial attorneys at Goosmann Law Firm, PLC, in our Omaha, Sioux City, and Sioux Falls offices can help you to evaluate the strengths and weaknesses of your case and define what a “win” looks like for you and then help you to remember that definition at the end of a long legal battle.