When it comes to negotiation, the more choices on the table, the better your outcomes will be – right? Not necessarily. An excess of options can stand in the way off efficient agreements and, moreover, prevent you from being satisfied with the final result.
agreement
A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them. The elements of a contract are “offer” and “acceptance” by “competent persons” having legal capacity who exchange “consideration” to create “mutuality of obligation.”
The following items are tagged agreement.
Exclusive Negotiation Periods
The clearest method for achieving exclusivity is an exclusive negotiating period, during which both sides agree not to talk to third parties, even if approached unexpectedly by others. In some arenas, these terms are called no-talk periods.
Mediating Tragedy: Managing the Boston Victim’s Compensation Fund
In mid-May, about a month after the Boston Marathon bombings of April 15, lawyer and mediator Kenneth Feinberg stood in an auditorium at the Boston Public Library to address families who had been directly impacted by the tragedy. Feinberg was in charge of administering One Fund Boston, a fund created to distribute donations to the victims.
August 2013
In Negotiation, It’s All in the Timing: Yes, you should consider making the first offer – but when?
Got a Raw Deal? Renegotiate a Better One: If you are stuck coping with a faulty contract, try renegotiation
Yahoo’s Tumblr Acquisition: A Risky Play for Relevance
How to DEAL with Threats
Our DEAL approach allows you to respond to threats without conveying weakness or escalating the conflict, redirecting talks toward a focus on each other’s interests.
What If You Have to Arbitrate?
The likelihood that a provision for final-offer arbitration in the event of impasse will actually result in arbitration is slim. However, as a precaution, you and your counterpart should agree on an arbitrator before you start negotiating. It’s easier to choose an arbitrator when both sides view arbitration as an unlikely event when arbitration is imminent and feelings are running high. You need not engage the arbitrator at this time since you probably won’t need her services.
Becoming a More Ethical Negotiator
Given the prevalence of corporate scandals in recent years, many have questioned whether ethics training for professionals has done much good.
One of the reasons that such training has achieved limited success is its focus on intentional, explicitly unethical behavior. Such training encourages students to do what is right rather than what is profitable. Yet, most professionals are not ethically challenged at an explicit level and those who are may be unreceptive to the messages of ethics training.
Why Do Managers Resist Facilitation?
There are three major reasons that managers are reluctant to seek the assistance they need.
Protecting Yourself from Competitive Expectations
Like other cognitive biases, competitive expectations can be insidious. Fortunately, there are several steps you can take to forestall their negative consequences.
What’s Wrong with Traditional Arbitration?
Traditionally, the arbitrator is not limited to selecting one of the parties’ contract proposals but may determine the contract terms on his own. If negotiators know that impasse will lead to traditional arbitration, they typically assume that the arbitrator will reach a decision that’s an approximate midpoint between their final offers.
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