After the evaluative method has been exhausted, and the parties have narrowed the gap between them, the question on the table is what does it take to settle the case. Should the party with the stronger case, make a final effort to bridge the gap? Is there a settlement premium that should be paid or accepted?
I believe that there is a settlement premium that comes into play and should be seriously considered for a number of very important reasons.
1. The evaluation approach is not science. Reasonable minds can differ. There is the old adage that even the best case has no better than 80/20 odds attached to it and no one could quibble with the odds dropping to 70/30 or even 60/40;