As a litigating attorney, I have gleaned certain important insights into the benefits of settlement and mediation. First, let me explain the benefits of settling a claim in advance of full litigation by informal settlement negotiations and then I will discuss the benefits of attempting mediation.
The previous three benefits derived from settlement are also benefits that come from entering into mediated settlement agreements brought forth through mediation. Thus, when informal settlement agreements cannot be reached, mediation is often the next step to attempt to procure those same benefits.
So, the question then begs itself, why will mediation be beneficial if informal settlement negotiations have broken down?
Altogether, these are important benefits to consider whenever one finds oneself in litigation or even in pre-litigation. It is also important to understand why mediation can foster an environment where a settlement can more easily be negotiated. While an agreement that you might come to in mediation might not be what you could potentially, possibly get in a courtroom, that agreement might still be worth way more in terms of practicality of resolution than you would have gotten by continuing the litigation.
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