Paul McCartney has recently entered into a confidential settlement with Sony/ATV Music Publishing LLC in the battle for copyrights over songs by the Beatles.
The terms of the settlement are confidential and not made public. However, the copyright claims over the songs by the Beatles would go to Paul McCartney commencing from October 2018.
See: Reuters News
This is a clear example of using alternative method to settle a dispute. Negotiation is one of the most cost and time efficient way to settle a dispute. Unfortunately, it is not often utilised by litigants, due to the emotional attachment to the case – winning all or nothing.
Negotiation implies compromising one’s claim for faster resolution of the dispute. How much of the claim is compromised will depend on one’s bargaining position and the skill of the negotiator.
It is this fear of losing out that dissuade most litigants from trying to settle. In addition, there is also a perception that if the parties are negotiating, it will give the impression that they do not have a good claim or defence. It may be true in some cases, but for the majority, this is not true.
It is advisable to not restrict one’s legal strategy to exclude negotiation and settlement as this is one of the most efficient way to resolve a dispute.
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