The Art of Settlement Negotiations
More and more in today’s modern business world, companies are seeking to resolve their disputes in a more amicable setting than the traditional courtroom. Litigation has proven itself throughout history to be costly in terms of both money and time and does not guarantee the parties an acceptable outcome. It is in the area of alternative dispute resolution that skilled attorneys can obtain far greater benefit for their clients than in a court of law. Negotiating settlements is not a task to be taken lightly, however. Each clause of a settlement contract can have long-lasting effects that are not always apparent at the time of agreement and must be dealt with by an expert who can keep an eye on the future.
Small Words, Big Wins
Every settlement agreement does not receive the same media attention as the headline grabbing cases involving very public parties or very high-dollar settlement amounts. This does not mean that the agreement that settles a dispute over pay as promised by a contract between two parties is not just as important as those attention-grabbing headlines In fact, these smaller disputes may actually involve more nuanced negotiation to come to a fair agreement than larger dollar settlements as the legality of the situation may not be so clear. Oftentimes in a situation involving a contractual relationship between businesses, the dispute stems from two different interpretations of the wording of a specific clause of the contract. Each party believes that they are interpreting the contract correctly, while in many cases both parties could be correct given the exact language used. In these situations, the party who is able to best convince the other side of the clause’s ambiguity is likely the same party who can negotiate an equitable settlement and end the dispute. As all business owners know, this process of avoiding litigation can save time and money in the long run.
Legal and Binding
The last thing a party to a settlement agreement wants to hear after hours of negotiations is that a court refuses to accept the agreement. The anger may temporarily be directed at the court, but in the end the responsible parties are likely attorneys who took the settlement process too lightly. Attention to detail and knowledge of the law are two of an attorney’s most highly desired qualities during settlement discussions. The parties to the underlying contractual agreement are likely experts in their field who are fully capable of understanding and discussing the foundations of their disagreement to find common ground. It is through nuance and legal prowess that a skilled attorney can turn this common ground into a fully legal and binding settlement so that the parties can put the dispute behind them and return to business as usual.
If your company is involved in complex business relationships and believes that a dispute is on the horizon, call the law office of Garcia & Gurney today. Our attorneys are gifted in the art of negotiations and can use their knowledge of the law to obtain a favorable settlement that moves your company’s relationships to the next level. The world of business is constantly in flux and requires the cooperation of multiple partners to achieve success. We can help you protect your company and build solid relationships that will see you through years to come.