No matter what people think, there aren’t a lot of individuals who truly enjoy lawsuits. Yes, there are people who love justice, and those who enjoy the money they may get. But the process of a lawsuit can be daunting, dirty, emotional, and just plain exhausting. This is why you need to realize that if you’re going to enter into court as a plaintiff or a defendant, it will most likely be a marathon and not a sprint.
Famous Case
One famous lawsuit that changed how people received awards has recently come back into the spotlight. USAToday30.usatoday.com reported that nearly 50 years after the case was settled, German manufactures of Thalidomide came forward with an apology. The lawsuit decades before was because the un-recommended drug had been given to pregnant women for morning sickness and it caused birth defects that were:
Structural.
Functional.
Metabolic.
The lawsuit became famous because when the amount of money awarded to the plaintiffs was so big that it would have put the distributors out of business. This suit was the beginning of structured settlements.
Games People Play
The reality is, court is expensive for everyone involved even before a decision is made about who wins or loses. And larger lawsuits can drain individuals of their personal fiance just to keep fighting. In fact, this can be a tactic for some defense teams. YJBLaw.com reveals, the defense is unwilling to pay an appropriate sum without forcing the plaintiff to wait longer and incur greater expenses in preparing for trial. A Forbes article recently discussed Mary Brown’s bankruptcy while she waiting on her lawsuit against Obamacare.
The Cost of Court
The American Intellectual Property Law Association reveals that it can cost a plaintiff over a million dollars to pursue a case for patent infringement. For a start-up company, or midsized firm, this can easily bankrupt them. Courts.Ca.gov walks you through what a simple slip and fall case might cost you versus what you would win.
Sue for $15,000-18,000.
Contingent lawyer fee (only gets paid if you win) will be approximately 1/3rd or $5,000-$7,000.
Other costs:
Witness fees.
Wages lost while attending court.
Notice to attend fees.
Filing fees.
Extraneous court costs.
Having to pay for someone beingserved
Expert fees.
Enforcement of judgment if the person won’t pay.
How to be Prepared
If you do a little homework and make smart decisions up front and along the way, you won’t have to lose your shirt waiting for a lawsuit outcome. Some pre-lawsuit tips from FindLaw.com include:
Make sure you have a good case to start with.
Make a final demand from the business or individual before you file.
Try to compromise or use mediation if the other side is willing.
Know for sure if you will be able to collect if you win the judgment.
Get an estimate from your lawyer for what they would charge, court cost, etc. Decide if it’s cheaper to settle.
Do the math on if you have the time and resources for a long, or drawn out lawsuit.
Are you able to meet the statute of limitations?
Is your claim small enough for small claims or conciliation courts?
Only you can decide if you would be able to afford a long trial, and if the lawsuit is worth it. Do the math, think it through, and make the decision that is best for you.
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