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.

10 Hard Bargaining Tactics

Posted by & filed under BATNA.

Don’t be caught unprepared by hard bargainers, warn Mnookin, Peppet, and Tulumello in Beyond Winning. Here is their Top 10 list of common tactics.

A Tale of Two Matching Rights

Posted by & filed under Business Negotiations.

In March 2005, German powerhouse SAP agreed to buy Retek, a small company that offered information management software, for $8.50 a share. The deal included a matching right in which Retek committed to negotiate exclusively with SAP for five days if it received a “superior offer.” The matching right didn’t scare away Oracle, SAP’s archrival, which was convinced that it could integrate Retek’s application software better than SAP could. Oracle offered $9 a share, triggering SAP’s matching right. SAP countered with $11 per share, and Oracle responded with $11.25 per share. SAP declined to match Oracle’s last offer, and Oracle closed its deal in mid-2005.

Finding the Right Process in India

Posted by & filed under Crisis Negotiations.

In 1995, a new government came into power in the Indian state of Maharashtra and canceled a 20-year power purchase agreement with the Dabhol Power Company, a joint-venture formed by Enron, General Electric, and Bechtel. Claiming that the deal was improper and even illegal, the government declared publicly that it would not renegotiate.

Metaphorical Negotiation

Posted by & filed under Negotiation Skills.

Negotiators talk about building agreement, bluffing the opposition, and volleying offers back and forth. According to mediator Thomas Smith, careful attention to such metaphors can reveal deeper meaning beneath the explicit words that people use, notably regarding how they view the negotiation process and their relationship to one another.

April 2013

Posted by & filed under Negotiation Monthly Archives.

Will Your Negotiations Get Sidetracked?
Coping with Negotiator Emotion, Both Fake and Fleeting
Dear Negotiation Coach: Dealing with an Uninformed Buyer

Taking Alternative Dispute Resolution (ADR) Too Far

Posted by & filed under Mediation.

More and more companies are inserting alternative dispute resolution (ADR) clauses in their contracts with customers and vendors, and even in agreements with their own employees. ADR processes such as mediation and arbitration can be beneficial for all concerned if they help avoid the cost, delay, and uncertainty of going to court. Mediation, in particular, may offer creative solutions, protection of confidentiality, and preservation of important relationships.

Negotiations by Other Means: Track II, Unilateral Action, Robust Third Party Role and Islands of Coordination in the New Middle East

Posted by & filed under Events, International Negotiation, Middle East Negotiation Initiative.

As direct Israeli-Palestinian negotiations appear to have ground to an indefinite halt, attention has shifted to other, less conventional methods for achieving mutually desirable outcomes for the two peoples. Tonight’s panelists will discuss the potential of alternatives including Track II diplomacy, isolated areas of coordination, a pro-active role of the third party and even unilateral action.

Negotiating in China: The Importance of Relationship Building

Posted by & filed under International Negotiation.

Although most Americans treat those they know better than they treat strangers, Chinese behavior towards insiders and outsiders tends to be more extreme than in the United States. A guiding principle in Chinese society is guanxi – personal relationships with people from whom one can expect (and who expect in return) special favors and services. Family ties are paramount, but friends, fellow students, and neighbors can also join the inner circle. As a foreigner, you can cultivate guanxi either by hiring people with close ties to your counterpart or by developing your own relationships with key contacts.