This settlement approach is similar to the 4-way meeting. However, the parties and their attorney’s sign a contract wherein they agree that the information exchanged between them and their conversations will remain entirely private, that their attorneys will not represent them in the event litigation is initiated, and that the parties themselves agree to fully cooperate in an effort to resolve the disputed issues between them.
The parties also agree that neither of them will call either of the attorney’s as witnesses in any litigation which may occur. Collaborative law is a relatively new process that is slowly becoming more popular. The collaborative law process encourages the parties to bring in outside professionals (e.g., therapists, accountants, investment specialists, child therapists, etc.) to work together with the parties and counsel. Attorneys who represent clients in this process must be trained and certified to engage in the collaborative law process.