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Considerations When Negotiating a Resolution Set out below are some key considerations to utilise when negotiating and trying to resolve a dispute.
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When Should I Get a Lawyer Involved?There are times when it is appropriate to get a lawyer involved early. The key factors to consider are:
These are the primary commercial issues you and your lawyer need to consider when determining your next steps and how best to progress your dispute. Your lawyer will also need to consider your legal position and the strength of your case before advising how best to proceed. While engaging a lawyer can be expensive, there are circumstances where it may be necessary to minimise your losses. It is important to remember that going to court and litigating a dispute is expensive, time-consuming, and stressful. When negotiating a dispute, there are no guaranteed or certain outcomes. You should always consider taking a commercially pragmatic approach to resolving your dispute and trying to compromise with or without a lawyer. If you can reach an agreement by negotiating, you should document the terms and parameters of the agreement and engage a lawyer to prepare a Deed of Settlement. Key TakeawaysNegotiation is a form of alternative dispute resolution. You can negotiate with or without a lawyer. However, legal advice can significantly benefit you in the long term depending on the value and risks involved with your dispute. Negotiation is generally more cost-effective than going to court. It can also preserve important business relationships and achieve better outcomes than court orders. Frequently Asked QuestionsWhat is negotiation?
Negotiation involves discussing with the other party to reach an agreement. You can do this with or without a lawyer, but you should consider engaging a lawyer for high-value disputes. What other alternative dispute resolution methods are available to me?
You can also consider mediation, arbitration, and conciliation before litigation if negotiation fails.
Caroline Snow |
