I run across a surprising number of business owners who simply ignore a lawsuit. Maybe they don't realize they've been sued. Maybe they believe they've received just their first notice. Maybe they believe if they ignore it it will just go away. But they have, they haven't, and it won't.
A Plaintiff, the person suing, will list facts and legal reasons for their claims in a legal document called a Complaint. The Complaint is filed with the court, then attached to a Summons and handed off to be served. A Summons is the document that often begins with "NOTICE: YOU HAVE BEEN SUED." This isn't your first notice; it's your ONLY notice.
Serving a lawsuit is often performed by a process server, who will hand deliver the Summons and Complaint to the person being sued, the Defendant. As of the moment the Defendant receives the Summons and Complaint, the clock starts ticking. In Nevada, the Defendant has 20 days, and 20 days ONLY, to respond by filing an Answer with the court. An Answer simply addresses each of the Plaintiff's claims as listed in the Complaint. If the Defendant fails to file an answer within 20 days, the Plaintiff can file for a Default, which means the Plaintiff wins. Period. It is very difficult to set aside, or cancel, a Default, so it's imperative that the Defendant file an Answer within the 20 day time frame.
Keep in mind, even if you call up the Plaintiff and make other arrangements, the court must still be notified. Think of two parallel universes. One is the real world, where you might very well speak to the Plaintiff or the Plaintiff's lawyer, decide to settle, or negotiate another solution. The other universe is down at the courthouse. All the court knows is that a Complaint has been filed and the clock is ticking. The court doesn't know that you're making other arrangements, or that you've convinced the Plaintiff to drop the lawsuit. If the 20 days pass without the Defendant filing an Answer, or without the Plaintiff filing to withdraw the case, the court will find in favor of the Plaintiff.
If you're in business long enough, you will be sued. Plan ahead. Unless you intend to represent yourself, which I do not recommend, decide which lawyer you will call. And as soon as you receive those documents, call your lawyer. Don't wait until Day 18.