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. If you’re owed $50,000 and you are suing for $70,000, you’re probably going to want to take that. If the offer is $5,000 and you think it’s worth millions, you’re clearly going to want to keep moving forward in the lawsuit. That’s something you need to discuss with your attorney.

There are many factors to consider about moving forward, especially if attorney’s fees are on the line. 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. An attorney or law firm does not have the autonomous authority to settle the matter without the client’s permission.