When Should You Accept an Intellectual Property Settlement?
When you feel that your rights have been violated, your intellectual property has been exploited or infringed upon, your profitability has suffered at the hands of another party or your license agreement has been breached, you respond with strong and forceful litigation. After all the legal back and forth, you may now be wondering when you should accept an intellectual property settlement. If so, please read on, then contact one of our experienced Bergen County, NJ intellectual property litigation attorneys to discuss your next steps.
What are the factors of a good intellectual property settlement offer?
One of those factors is the ability to prove liability on the part of the defendant who is offering to settle the case. Another factor is the ability of that defendant to prove that another party, the plaintiff or nobody in particular is responsible for the infringement. If you feel your case does not quite meet that standard and the offer is commensurate, then you might want to settle, especially if the other party admits wrongdoing. However, if you feel you have proven your case based on a preponderance of the evidence and the defendant’s offer does not reflect that, especially if he or she professes innocence, you may want to keep negotiating.
How do you get a better intellectual property settlement offer?
If you are not satisfied with the settlement amount the other party has offered, you may need to renegotiate. If so, you should undertake the following steps:
- Have a specific settlement amount in mind
- Do not jump at a first offer
- Emphasize the strengths of your case
- Wait for a response
- Know when to engage an attorney
- Put the settlement in writing
How can a Bergen County, NJ intellectual property attorney help you?
While reaching out to a skilled Bergen County, NJ intellectual property attorney is not strictly necessary to maximize your settlement offer, we do highly recommend it. Only you can decide if a settlement offer meets your qualifications. But as we have outlined above, you may not have a perfect case. A seasoned legal professional will not only defend you and your rights, he or she will also tell you the truth. If this process sounds intimidating, please give us a call today.
Contact our Firm
The Law Offices of Richard E. Novak, LLC has over 25 years of experience helping clients through tough times when they need it most. If you need assistance with any intellectual property, traffic violations, or business law matters, our firm is here to help. It is critical that you pick the right attorney who can protect your rights. Contact The Law Offices of Richard E. Novak, LLC for a consultation.