Litigation Psychology Podcast #79 - Settlement negotiations
Guest: Kellie Howard-Goudy, Attorney - Collins Einhorn Farrell
Kellie Howard-Goudy, Attorney with Collins Einhorn Farrell, joins the podcast to talk about strategies for settlement negotiations. Since over 95% of cases settle, honing the skills and process to manage settlement negotiations is a critical skill for litigators. Kellie shares her strategy for settlement negotiations with Dr. Steve Wood including developing a risk/benefit analysis. Communication with the client is also key to the settlement strategy as it is important to consistently remind your client about the definition of a win. Kellie also talks about how critical it is to know the strengths and weaknesses of your case and the opposing counsel's case, as well as knowing what your case is worth, in advance of entering into settlement negotiations. Lastly, Kellie and Steve discuss the impact of Covid on settlement negotiations and the expected volume of settlements, the importance of doing jury research and working up a case as if it will go to trial and not assuming your case is going to resolve.