Three things to know about settlement conferences

No matter how sound you may believe your legal position is in the midst of a lawsuit, litigation still costs money. Unfortunately, some entities may realize this and still will take steps to advance a suit believing that if you spend enough money (commonly in discovery), you will cut your losses and settle.

Fortunately, courts may realize the injustice in continuing with protracted litigation when one (or both) parties are burning money simply to reach a foregone conclusion through litigation. Because of this, settlement conferences are part of a court's trial order.

These meetings are set up by the court, so that parties can resolve key issues without protracted litigation. But it is essential to be prepared. This post will provide some helpful tips.

Keep your emotions in check - If you feel like you are being exploited by fighting the lawsuit in the first place, and this may raise your ire. However, a settlement conference is not the arena to vent your concerns. Instead, think about getting a deal done so that you can focus on resuming your business.

Know your attorney's role - Settlement conferences are not necessarily best for the bravado of tense litigators. After all, as the client, you have the final decision. So expect your attorney to be more of an advisor.

Keep costs in mind - At their essence, settlement conferences are about saving money. With that, you should be cognizant of the cost of being "right" compared to the cost of getting out of a lawsuit. Ultimately, you may not get everything you want, but you will be saving money in the long run.