Guhan Subramanian

The following items are tagged Guhan Subramanian

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Courses and Training

Negotiation and Leadership: Dealing with Difficult People and Problems

Posted by & filed under executive training, Negotiation and Leadership (3 and 1 Day Courses).

It’s often said that great leaders are great negotiators. But how does one become an effective negotiator? On-the-job experience certainly plays a role, but for most executives, taking their negotiation skills to the next level requires outside training. Designed to accelerate your negotiation capabilities, Negotiation and Leadership examines core decision-making challenges, analyzes complex negotiation scenarios, … Read More 

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Negotiation Pedagogy A Research Survey of Four Disciplines

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Prepared by various Program on Negotiation faculty for the 2000 Hewlett Conference on Negotiation Pedagogy, this volume is an overview of negotiation pedagogy in graduate schools of law, international relations, public policy and planning, and business and management. It includes a summary of the results of a research survey of negotiation professors across four fields … Read More 

Free Report

Negotiation Master Class Spring 2017 Program Guide

Posted by & filed under Free Report.

Over the years thousands of professional have participated in negotiation programs at the Program on Negotiation (PON) at Harvard Law School. And after a few months or years of putting their negotiation skills and techniques to work, participants inevitably ask us, what’s next? The Program on Negotiation is pleased to announce the Negotiation Master Class, … Read More 

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Courses and Training

Harvard Negotiation Master Class: Advanced Strategies for Experienced Negotiators – March 28-30, 2017

Posted by & filed under Harvard Negotiation Master Class.

Strictly limited to 60 participants who have completed a prior course in negotiation, this first-of-its-kind program offers unprecedented access to experts from Harvard Law School, Harvard Business School, and the Massachusetts Institute of Technology—all of whom are committed to delivering a transformational learning experience. By working closely with them, you will: … Read More 

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Negotiation Master Class Fall 2016 Program Guide

Posted by & filed under Free Report.

Over the years thousands of professional have participated in negotiation programs at the Program on Negotiation (PON) at Harvard Law School. And after a few months or years of putting their negotiation skills and techniques to work, participants inevitably ask us, what’s next? The Program on Negotiation is pleased to announce the Negotiation Master Class, … Read More 

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Courses and Training

Negotiation and Leadership: Dealing with Difficult People and Problems

Posted by & filed under executive training, Negotiation and Leadership (3 and 1 Day Courses).

Negotiation and Leadership Dealing With Difficult People and Problems Fall: December 5-7, 2016 Spring: April 18-20, 2017 | May 15-17, 2017 | June 19-21 2017

Become a More Effective Negotiator Great leaders are great negotiators. By equipping you with the innovative negotiation strategies you need to excel at the bargaining table, Negotiation and Leadership will help you:

Improve working relationships and resolve seemingly … Read More 

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Free Report

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Courses and Training

Secrets of Successful Dealmaking

Posted by & filed under Harvard Negotiation Institute, Harvard Negotiation Institute (5 Day Courses).

Course Dates: June 5-9, 2017 In corporate dealmaking, much of the action happens away from the negotiating table. Successful dealmakers understand that deal set-up and design greatly influence negotiation outcomes. In this program, you will examine the legal, tactical, and structural elements of dealmaking and acquire practical skills and techniques for navigating difficult tactics and pursuing … Read More 

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Negotiation Master Class Fall 2013 Program Guide

Posted by & filed under Free Report.

For the first time ever, the Program on Negotiation is offering a master-level course for negotiators. The program is highly personalized and taught by 4 negotiation experts from Harvard and MIT. If you are selected to participate, you will be assigned to small learning groups, take part in dynamic exercises with two-way feedback, work closely … Read More 

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Bargaining at a Fever Pitch

Posted by & filed under Leadership Skills.

Bargaining a fever pitch

Have you ever won an auction only to realize later that you overbid for the prize? In competitive bidding situations, it’s easy to get carried away in the heat of the moment and overpay. The Boston Red Sox 2006 procurement of Japanese pitching phenomenon Daisuke “Dice-K” Matsuzaka offers a lesson in keeping cool in these … Read More 

Courses and Training

Negotiation and Leadership: Dealing with Difficult People and Problems

Posted by & filed under executive training, Negotiation and Leadership (3 and 1 Day Courses).

It’s often said that great leaders are great negotiators. But how does one become an effective negotiator? On-the-job experience certainly plays a role, but for most executives, taking their negotiation skills to the next level requires outside training. Designed to accelerate your negotiation capabilities, Negotiation and Leadership examines core decision-making challenges, analyzes complex negotiation scenarios, … Read More 

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Win-Win Business Negotiations: The Wachovia Buyout

Posted by & filed under Win-Win Negotiations.

win win business negotiations the wachovia buyout

Changing financial and legal conditions can create and destroy wealth in the blink of an eye. How does a negotiator take advantage of such periods of change? During the financial crisis of 2008, Wachovia Corporation found itself looking for a buyer to avoid collapse while the financial industry as a whole was the grips of … Read More 

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7 Tips for Closing the Deal in Negotiations

Posted by & filed under Dealmaking.

“ABC: Always Be Closing.” That’s the sales strategy that actor Alec Baldwin’s character Blake shared in the 1992 film Glengarry Glen Ross as he tried to motivate a group of real estate salesmen. In his verbally abusive, profanity-laced speech, Blake presented a ruthless model of closing a business deal that ignores customers’ needs and cuts … Read More 

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5 Win-Win Negotiation Strategies

Posted by & filed under Uncategorized.

Business negotiators understand the importance of reaching a win-win deal: when both sides are satisfied with their agreement, the odds of a long-lasting and successful business partnership are much higher. But concrete strategies for generating a win-win contract often seem elusive. The following five, from experts at the Program on Negotiation at Harvard Law School, … Read More 

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Case Study of Business Negotiations and Deal Making: Giving Voice to Negotiators Away from the Bargaining Table

Posted by & filed under Dealmaking.

Sometimes negotiators focus too much on the bargaining session at hand, to the detriment of bargainers away from the negotiation table, a group whose concerns and input is just as valid as those of the negotiators themselves. Here are some negotiation tips to help make sure your bargaining strategies include the voices and concerns of … Read More 

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Negotiation Books: A Negotiation Reading List for 2017

Posted by & filed under Negotiation Training.

As a new year approaches, many of us are making the usual resolutions aimed at improving our health and well-being. Why not also add the goal of being a more effective negotiator to the list? Whether you are facing negotiations with Congress, colleagues, customers, or family members, the following negotiation books, published in recent years … Read More 

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Take your BATNA to the Next Level

Posted by & filed under BATNA.

If your current negotiation reaches an impasse, what’s your best outside option? Most seasoned negotiators understand the value of evaluating their BATNA, or best alternative to a negotiated agreement, a concept that Roger Fisher, William Ury, and Bruce Patton introduced in their seminal book, Getting to Yes: Negotiating Agreement Without Giving In (Penguin, 1991, second … Read More 

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Is Your Deal Too Good to Be True?

Posted by & filed under Business Negotiations.

In an episode of the fictional HBO series Silicon Valley, partners in a red-hot technology startup, Pied Piper, receive funding offers from a number of venture capitalist firms. Raviga Capital is by far the highest bidder; its offer of $20 million values Pied Piper at a whopping $100 million. … Read More 

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How to Negotiate Under Pressure

Posted by & filed under Negotiation Skills.

At the time, it seemed to be an example of coolheaded dealmaking in the midst of disaster. In 2009, hit hard by the 2008 financial crisis and changes in consumer preferences, U.S. automaker Chrysler was on the brink of collapse, and the Treasury Department stepped in to do a deal. In exchange for about $12 … Read More 

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Business Negotiation Skills: How to Deal with a Failing Business Partnership

Posted by & filed under Business Negotiations.

It had seemed like the beginning of a fruitful relationship. In April 2012, six wealthy businessmen teamed up to buy the Philadelphia Inquirer and several affiliated businesses for $61.1 million, promising to work together to reverse the newspaper’s flagging fortunes. Their infusions of cash and appointment of a Pulitzer Prize–winning reporter, William K. Marimow, as … Read More 

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5 Good Negotiation Techniques

Posted by & filed under Negotiation Skills.

You’ve mastered the basics of good negotiation technique: you prepare thoroughly, take time to build rapport, make the first offer when you have a strong sense of the bargaining range, and search for wise tradeoffs across issues to create value. Now, it’s time to absorb five lesser-known but similarly effective negotiation topics and techniques that … Read More 

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What is Anchoring in Negotiation?

Posted by & filed under Negotiation Skills.

What is anchoring in negotiation, and how does it play out? Consider this anchoring bias example from Harvard Business School and Harvard Law School Guhan Subramanian. While running a negotiation simulation in one of his classes, Subramanian noticed that one student spent a considerable amount of time explaining why $10.69 per hour would be an impossible … Read More 

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How to Defend Against “Scope Creep” at the Negotiation Table

Posted by & filed under Uncategorized.

The following question was asked of Negotiation Coach and PON faculty member Guhan Subramanian in the February 2014 issue of the Negotiation Briefings newsletter: Question: I run a small consulting firm that has a services contract with a major multinational corporation. The team we work with has a bad habit of continually adding items to the … Read More 

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In Business Negotiations, Capitalize on a Right of First Refusal

Posted by & filed under Business Negotiations.

in business negotiations capitalize on a right of first refusal

As dealmakers look for more sophisticated ways to reduce risks and increase returns, a right of first refusal—a contractual guarantee that one side can match any offer that the other side later receives—has become a common and useful tool to add to your business negotiation skills.

in business negotiations capitalize on a right of first refusal

As dealmakers look for more sophisticated ways to reduce risks and increase returns, a right of first refusal—a contractual guarantee that one side can match any offer that the other side later receives—has become a common and useful tool to add to your business negotiation skills.

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When the mergers-and-acquisitions (M&A) boom began in 1993, many deals simply required the seller to let the buyer know if a “superior proposal” came along. By the late 1990s, buyers were demanding—and receiving—more than this: an exclusive negotiating period of several days, during which they could decide whether to match or improve upon another bidder’s offer. In current business negotiations, rights of first refusal, also known as matching rights or rights of first offer, are being rapidly incorporated into business negotiations at all levels and in many industries.

In the typical right of first refusal, the grantor gives the right holder the right to buy an asset on the same terms that the grantor would receive from any other bona fide, prospective bidder, otherwise known as the third party.

Suppose, for example, that a private company is negotiating an equity infusion from an investor in exchange for a 20% ownership stake and a set on the board. To preserve its stability, the company conditions the deal on a right of first refusal: before the investor can sell his stake to someone else, the company can buy it back at the negotiated price. The investor accepts the deal, and the company gets its equity.

Now suppose that two years have passed since the company (the right holder) and the investor (the grantor) signed their deal. The investor now wants to liquidate his investment. One potential buyer offers to purchase the 20% interest for $3.4 million. The investor now is required to ask the company, which holds the matching right, if it wants to match the offer. This contractual obligation has important consequences that depend in large part upon the role you play in a negotiation.

Advice for the grantor In negotiation, including a right of first refusal in an agreement can be a classic win-win move. To take a real estate right of first refusal, suppose you’re a landlord negotiating with a prospective tenant. You want to maintain the ability to sell the apartment to someone else in the future, while your prospective tenant wants a commitment to rent the apartment for as long as she wants. The solution might be to offer the tenant a right of first refusal—the power to match any legitimate third-party offer. In this manner, the tenant gains the opportunity to avoid the disruption of a move, and you preserve your own flexibility.

A right of first refusal can also create value through tradeoffs on negotiators’ different expectations. Let’s return to the case of the investor who buys a 20% ownership stake in a private company, and assume that the investor plans to hold the stake for a long time. If the company is not as sure about his commitment, a right of first refusal is cheap for the investor to give and valuable for the company to receive.

Advice for the right holder As the prospective right holder, you should know precisely what a proposed right of first refusal will give you. Many deals that seem to guarantee a right of first refusal are, in fact, murky about the consequences that could arise.

For potential right holders, the most common mistake is to fail to specify what will happen if you choose to match a bid. Will your matching bid call off the contest with the third party or launch a bidding war?

Other details are equally important. How long do you have to decide whether to match an offer? If the duration of the right of first refusal is ambiguous, a third party could short-circuit your right by making an exploding offer with a short fuse. You might fail to match the offer due to time pressure rather than to your unwillingness to pay. The end result is a right of first refusal worth significantly less than you thought.

Advice for third parties What if you’re thinking about making an offer that would trigger a right of first refusal? Returning to the case of the investor with a 20% stake in a company, imagine that you approach the investor about buying him out. When you learn about the company’s right of first refusal, you face a difficult situation. If the company exercises its right of first refusal, you’ve wasted time conducting due diligence and negotiating. If the company doesn’t exercise its right of first refusal, you likely have overpaid. Why? Because the company probably has better information about the true value of the 20% stake than you do. As a result of this information asymmetry, many sophisticated investors avoid deals that trigger a right of first refusal.

Yet the winner’s curse may not apply to you. First, the right holder simply might not be able to match your offer due to a liquidity crunch. Second, you may have just as much or better information about the value of the asset as the right holder. If the right holder doesn’t match your bid, she may not recognize these sources of value. Third, you might bring some special value to the table that the right holder lacks. Try to assess whether any of these three justifications apply before making a bid. If one of them does, you’re ready for business.

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Adapted from “Matching Rights: A Boon to Both Sides,” by Harvard Business School and Harvard Law School professor Guhan Subramanian, first published in the Negotiation newsletter.

When the mergers-and-acquisitions (M&A) boom began in 1993, many deals … Read More 

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Lessons in Negotiation: Guhan Subramanian Cited by US Securities and Exchange Commissioner Daniel Gallagher

Posted by & filed under Business Negotiations.

Program on Negotiation executive committee member and Harvard Law School and Harvard Business School professor Guhan Subramanian was recently cited by Commissioner Daniel M. Gallagher of the United States Securities and Exchange Commission during his opening statement at the Proxy Voting Roundtable. In discussing the equalizing effect of a universal balloting system on corporate governance, Commissioner … Read More 

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Negotiation Skills: View Your Counterpart as an Agent

Posted by & filed under Negotiation Skills.

Looking for yet another way to build your power at the negotiating table? Examine the incentives of your counterpart—and then consider whether they align with those of the group she represents. In most business negotiations, notes Harvard professor Guhan Subramanian, your counterpart is acting as her organization’s representative, or agent (just as you’re acting as … Read More 

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Pull Ahead of the Pack with a “Negotiauction”

Posted by & filed under Dealmaking.

Robert Barnett, a corporate attorney based in Washington, D.C., moonlights as a book agent for celebrity politicians—including Barack Obama, Laura Bush, and Bill and Hillary Clinton. New York editors line up to sign Barnett’s clients and, they hope, rake in blockbuster profits. Barnett’s technique is to introduce his latest superstar to the major publishing houses and … Read More 

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Business Negotiations: Imposing Procedural Constraints

Posted by & filed under Business Negotiations.

Sometimes the courts will be unwilling to get involved in the substantive terms of the deal but will impose procedural constraints on the more powerful party. Consider the case of a controlling shareholder in a publicly traded company – someone who holds more than 51% – who wants to “cash out” the minority shareholders. Under the corporate … Read More 

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Deal Making: When You Hold All the Cards

Posted by & filed under Dealmaking.

Consider the following hypothetical negotiation scenarios, in which you seem to hold all the cards: – One of your customers has just landed a lucrative new contract, and you’re the only supplier who can add a critical component to that customer’s production process. – You own a controlling interest in a publicly traded company and are seeking … Read More 

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Program on Negotiation Welcomes Visiting Scholar Stefanos Mouzas

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Stefanos Mouzas is Professor of Marketing and Strategy at Lancaster University Management School in England, where he is also affiliated with the Center of Law and Society. He received his B.Sc. (Economics) from the University of Athens, LL.M. (Contract Law) from University of Bristol, and Ph.D. (Marketing) from Lancaster University. He was Visiting Professor … Read More 

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Matching Rights in Business Negotiations: Advice for the Grantor – Use Matching Rights to Bridge the Gap

Posted by & filed under Business Negotiations.

In negotiation, including a matching right in an agreement can be a classic win-win move. Suppose you’re a landlord negotiating with a prospective tenant. You want to maintain the ability to sell the apartment to someone else in the future, while your prospective tenant wants a commitment to rent the apartment for as long as … Read More 

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Business Negotiations: Matching Rights – The Fundamentals

Posted by & filed under Business Negotiations.

When the mergers-and-acquisitions boom began in 1993, many deals simply required the seller to let the buyer know if a “superior proposal” came along. By the late 1990s, buyers were demanding – and receiving – more than this: an exclusive negotiating period of several days, during which they could decide to match or improve upon … Read More 

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Deal Making Without a Net: Yahoo’s Tumblr Acquisition

Posted by & filed under Dealmaking.

On May 19, Internet company Yahoo announced that it was purchasing the blogging service Tumblr for about $1.1 billion in cash. The acquisition could put a fresh face on the aging Internet company and provide it with a profitable revenue source—or it could turn out to be another instance of the Web pioneer overpaying for … Read More 

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Should Your Boss Be at the Negotiation Table?

Posted by & filed under Negotiation Skills.

Imagine that you are about to begin a negotiation whose subject matter is squarely within your area of responsibility at my company. However, the dollar amounts at stake are so large that you are tempted to kick it upstairs to your boss, or at least involve your boss directly in the negotiation. What are the … Read More 

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Sellers: Stay out of legal hot water

Posted by & filed under Dealmaking.

When it comes to business negotiations, you probably understand the importance of being as principled as possible to protect your reputation and ward off legal trouble. You probably expect your counterparts to follow the straight and narrow as well. Yet negotiators often have only a fuzzy grasp of which claims and strategies are legal and … Read More 

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How much authority do they have?

Posted by & filed under Business Negotiations.

Adapted from “Contracts 101: What Every Negotiator Should Know about Contract and Agency Law” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter, February 2006. While hammering out an agreement, a mid-level manager offered a customer a significant price discount. When the discount failed to materialize, the customer … Read More 

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Conflict management from the start

Posted by & filed under Business Negotiations, Daily.

Adapted from “Before You Sign on the Dotted Line…”first published in the Negotiation newsletter, May 2009. After reaching an agreement, professionals often rely on their lawyers to draw up the official contract. Unfortunately, miscommunication between negotiators and their lawyers often leads to costly mistakes. Contract terms may not accurately represent the negotiated agreement, key deal terms … Read More 

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Sizing up the competition

Posted by & filed under Business Negotiations, Daily.

Adapted from “The Ins and Outs of Making Sealed Bids,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter, July 2007. Imagine you’re bidding for a house against another “very interested party,” according to your real-estate agent, and the seller wants a sealed bid from you by close … Read More 

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Don’t rush into a flawed contract

Posted by & filed under Business Negotiations, Daily.

Adapted from “A Contingent Contract? Weigh the Costs and Benefits of Making a ‘Bet’,” by Guhan Subramanian (professor, Harvard Law School and Harvard Business School), first published in the Negotiation newsletter, August 2006. Contracts in professional sports are often chock-full of contingencies -“bets” that parties place on their different expectations of future outcomes – and former … Read More 

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Video: Setting the Stage for Productive Negotiations

Posted by & filed under Daily.

Understanding how to arrange the meeting space is a key aspect of preparing for negotiation. In this video, Guhan Subramanian, professor at Harvard Law School and Harvard Business School, discusses a real world example of how seating arrangements can influence a negotiator’s success. The discussion was held in his negotiation training workshop “Setting the Stage … Read More 

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Could Your Power Trip Backfire?

Posted by & filed under Conflict Resolution.

Adapted from “When You Hold All the Cards,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter. Being the more powerful party in a negotiation doesn’t guarantee a free ride. Specifically, legal rules may constrain your actions. In particular, the courts might read additional terms into the deal … Read More 

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Negotiators: Don’t Go on a Power Trip

Posted by & filed under Negotiation Skills.

Adapted from “When You Hold All the Cards,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter. One of your customers has just landed a lucrative new contract, and you’re the only supplier who can add a critical component to that customer’s production process. Concerns about violating your … Read More 

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Negotiation? Auction? A Deal Maker’s Guide

Posted by & filed under Business Negotiations, Daily.

Guhan Subramanian, Joseph Flom Professor of Law and Business, Harvard Law School; Douglas Weaver Professor of Business Law, Harvard Business School; Author of Negotiauctions When you have something to sell, should you hold an auction or negotiate a collaborative deal that delivers maximum value to both sides? In this article, professor Guhan Subramanian compares the risks … Read More 

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Know your rights!

Posted by & filed under Business Negotiations, Daily.

Adapted from “Matching Rights: A Boon to Both Sides,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter. As dealmakers look for more sophisticated ways to reduce risks and increase returns, a matching right—a contractual guarantee that one side can match any offer that the other side … Read More 

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Prof. Guhan Subramanian featured in Forbes India

Posted by & filed under Business Negotiations, Daily.

Professor Guhan Subramanian was featured in Forbes India in April 2010. Professor Subramanian discusses his latest book Negotiauctions: New Dealmaking Strategies for a Competitive Marketplace, which was published in February 2010. Click here to read the full article. Professor Subramanian will be teaching Advanced Negotiation: Deal Design and Implementation at the Harvard Negotiation Institute June 14-18. For … Read More 

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Too much commitment?

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Are You Overly Committed to the Deal?” First published in the Negotiation newsletter. A telecommuter hires a carpenter to build a workstation for her home office. The carpenter’s contract requires payment of 50% upon signing, an additional 30% halfway through the job, and the final 20% upon completion. When the job is done, … Read More 

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Small Talk, Big Gains?

Posted by & filed under Business Negotiations.

According to conventional wisdom, small talk builds rapport and gets both sides a better deal in the end. But in fact, the question of whether to engage in small talk can be highly context-specific. New York City investment bankers, for example, tend to be far less likely than Texas oil executives to engage in small … Read More 

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“Are We Exclusive?”

Posted by & filed under Business Negotiations.

Ron McAfee, a carpenter and roofing expert, spent considerable time working with a condominium association on the design of a new roof deck. After gaining agreement on the proposed layout, design, and materials, McAfee submitted a written bid of $12,500. One of the board members subsequently showed McAfee’s plans to another roofer, who offered to … Read More 

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Professor Guhan Subramanian featured in TheDeal.com

Posted by & filed under Business Negotiations, Daily.

Guhan Subramanian is one of the most prominent — and ambitious — legal academics of his generation. The 39-year-old is the only person who’s ever held tenured positions at Harvard’s law and business schools, and on the side he advises companies on M&A and corporate governance. After authoring numerous academic papers and a corporate law … Read More 

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Should You Go Dutch?

Posted by & filed under Business Negotiations.

Most everyday auctions are English: they begin with an opening bid, continue with ascending bids, and end when the bidding stops. But for some assets, the seller opens at a very high price, then moves down rather than up if all bidders are silent. … Read More 

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Program on Negotiation saddened by the loss of 2007 Great Negotiator, Bruce Wasserstein

Posted by & filed under Daily, Great Negotiator Award.

The Program on Negotiation at Harvard Law School was saddened to learn of the death of Bruce Wasserstein, PON’s 2007 Great Negotiator. The Great Negotiator Award is  given to recognize an individual whose lifetime achievements in the field of negotiation and dispute resolution have had a significant and lasting impact. Wasserstein, Chairman and CEO of  … Read More 

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Negotiating the Financial Crisis

Posted by & filed under Daily, Events.

Panelists will discuss the negotiation challenges presented by the banking crisis, GM’s restructuring, and the policy making process. Moderator: Robert Mnookin, Chair of the Program on Negotiation and Samuel Williston Professor of Law at Harvard Law School Panelists: Howell Jackson, Acting Dean and Professor, Harvard Law School Robert Pozen, Chairman of MFS Investment Management and Senior Lecturer of Business Administration … Read More