9. Law Office of David Steinfeld, P.L. What does it mean to settle a business dispute A settlement of claims in a business dispute is a compromise. A compromise is generally defined as one side giving or paying more than they would like and the other accepting less than they desired.
Settlements can occur independent of a lawsuit or arbitration or as part of that process in a mediation or directly between the parties. In a lawsuit or arbitration a settlement returns control over the outcome to the parties from the party that would otherwise decide their fate such as a judge, arbitrator, or jury. What may be contained in settlement terms and whether such terms are appropriate or beneficial are highly personal to the parties and dependent on the unique facts of the case.
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