I’m suing a competitor and he has offered a settlement. What factors should I consider in accepting?
At this point, if you’ve already sued someone and have received a settlement offer, then clearly you’re represented by legal counsel. So I would say talk to your attorney. But what you want to consider at this point is how much it’s going to cost you to keep moving forward, how much the offer is and what is owed. You know, if you’re owed 50,000, and you are suing for 70, you’re probably going to want to take that if the offer is five and you think it’s worth millions and, you know, clearly, you’re going to want to keep moving forward in the lawsuit. That’s something that you need to discuss with your attorney.
There’s a lot of factors to consider about moving forward, especially if attorney’s fees are on the line. So if you do get a fair offer, your attorney has to let you know right away because it’s always the client’s option. whether to accept or reject a settlement and attorney or a law firm does not have that autonomous authority to settle the matter without the client’s permission.
