3 ms·
On the other hand, that was purely due to his counter-offer being 80%. Given the amounts we're talking, there's basically no difference between $1500 and $2000
by Nextgrid 4y ago
On the other hand, that was purely due to his counter-offer being 80%.
Given the amounts we're talking, there's basically no difference between $1500 and $2000 for a big company - the entire process already cost them as much, and continuing said process would keep costing them more especially as it's a clear-cut case of breach of contract they are unlikely to win regardless of how much time they spend on it.
If they didn't believe he had any ground to stand on, they would've declined immediately regardless of how low his counter-offer was. Given that they accepted it immediately, they knew they were in the wrong and would've accepted a repayment of the full amount just as well.
- thathndude 4y agoAAA arbitration costs a company about $3,000 (and the costs of an attorney they hire). Some may/will pay nuisance settlements if it’s the economically rational play—even if they think the claim is bogus. Although, to be clear, this claim sounded very very legit. (Candidly, I would have pushed for a much higher settlement. But don’t blame OP for not wanting the headache). There’s some interesting arbitrage opportunities in this space. I have the legal (and arbitration) experience. I’ve been noodling on how to marry it up with a tech-minded individual to capitalize on these opportunities.
- mgw 4y agoSounds like an interesting opportunity. Some ideas immediately come to mind. I'm a previous founder and CTO/CEO. Feel free to reach out if you're interested to discuss. You can find my email in my profile.