Mediation is a common solution to civil lawsuits as it represents an amicable resolution that serves both parties. But, a mediated settlement agreement can have any number of terms and settlement numbers.
The conclusion reached on the day of mediation can play a huge role in the overall result of a litigation case.
In the following article, we’re going to provide you with some useful tips on how to carry out a successful mediation and what’s meant by a successful mediation so that you can serve your clients better.
- Get Ready for Competitive Negotiation
Mediation isn’t to be confused with cooperative negotiation, which is when both parties transparently share their arguments in order to reach a result that’s satisfactory to both.
For instance, let’s say you have an apple that both parties want. Instead of cutting the apple in half and giving each an equal piece, both parties would have to produce arguments as to why they want and deserve the apple more than the other.
Perhaps one of them wanted it to make apple pie while the other wanted to squeeze it into a juice.
- Don’t Get into Debates Over the Phone
In addition to not dropping anchors, avoid getting into debates with the other party as that might reveal your initial impressions of the case.
The last thing you need is to let the other side know that you have some doubts or holes in your case. The same thing goes for any courthouse conversations that happen prior to the case.
Of course, you could always put some feelers out there to determine what the other side’s propensity for settling is by checking their website, but you should limit the amount of information shared during these sessions.
- Don’t Make Any Anchor Public
Prior to mediation, the negotiation process usually takes place. An anchor is the specific number that may have been mentioned at some point during the lawsuit.
Once you’ve dropped this number, it’ll be difficult to take it back, so it’s best to not mention any number until you get to the mediation process because they might take it as a settlement number that ends up casting a shadow on the case for the duration of it.
A case valuation basically tells you what the case’s potential outcome depending on its present value.
For instance, if your client can prove $1 million in damages, then it’s not a good idea to say that the case is worth $500,000. After all, there’s a 50/50 chance that either side could win.
Another example would be if you were to present a bar chart that starts at $0 and caps at $1 million, peaking at $500,000, then you’re just as likely to get $250,000 as $750,000.
- Negotiate as Early as Possible
Although it’s not a bad idea to ask for your worth, it’s not advisable to get greedy. Avoid asking for a big number that sounds outrageous because that could negatively affect the negotiations.
Instead, present your best case and you’ll have a better chance of getting what your client deserves based on the merits of their case.