Richard L. Miller II recently was interviewed by Smart Business Chicago magazine on “The Secrets of Settling: How You Can Settle Your Lawsuit Quickly.” The resulting article appears in this month’s magazine [link] and in the publication’s online edition [link].
“Business litigation is an expensive process,” the article states. “Indeed, it is now common for parties to spend years producing documents, attending depositions and arguing motions, all of which happens before reaching a trial. As a result, experienced executives and in-house counsel often want to know how they can promptly settle a dispute on favorable terms.”
Mr. Miller warns that it’s natural for busy executives to desire a fast resolution but “[i]f your opposition senses that you need a quick settlement, it will attempt to use that information to its advantage.” He also advises against overreaching in making initial settlement offers, as this often results in the opposition stiffening its resolve and committing to litigation.
Miller states that parties frequently do not understand damages. “In order to obtain a monetary award, you must have a legal theory that entitles you to relief. For example, if a former employee steals a customer list, you probably will not be able to obtain a money judgment if you cannot prove that the employee used the list, or shared the list, in a way that caused you to actually lose a sale or customer.”
Miller also addresses the keys to settling early and whether it is wise to seek a written settlement agreement when an agreement is reached in principle. The full article can be found at [link]. For more information, contact Mr. Miller at (312) 419-6900 or email@example.com.