PON – Program on Negotiation at Harvard Law School - https://www.pon.harvard.edu
Dealmaking is defined as the art of crafting deals through negotiations focused on an integrative, or value-creating process, rather than through distributive bargaining, or a haggling process. Dealmaking includes the range of activities both at the bargaining table and away from it that seek to bring two or more parties together toward some common end, whether it is the sale of an asset, a vendor agreement, or a merger between corporations. The Program on Negotiation emphasizes integrative bargaining in its dealmaking literature and teaches methods and techniques from this school of thought in its executive education courses.
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 and successfully closing a deal. Other critical factors in successfully making deals include strategic behavior—the unwillingness of one or both sides to make a best offer—psychological factors, lack of a deadline, poorly-prepared formal documents, and refusal to allow the other side to make a graceful exit, even when they’ve agreed to your demands.
Strategies for successful dealmaking include tactics such as creating more value by exploring hidden interests and adding issues that appeal to your bargaining opponent. Another tactic is recruiting a third-party mediator when the dealmaking process is at an impasse. Sometimes, Harvard experts find, it pays to be the first person to make an offer, while at other times, it pays to wait.
Articles from the Program on Negotiation focus on a vast array of dealmaking strategies and explore the latest concepts such as expanding the pie, “negotiauctions,” anchors in negotiation, and bartering.
After you discuss the pros and cons of your desired item, the salesperson might offer to give you a discount without any prompting. If not, open the negotiation yourself: “I can buy this TV online this weekend at a much lower price. Can we work together toward a more competitive deal?”
If the salesperson is willing … Learn More About This Program 
It’s time to negotiate a promotion, but whether you meet that goal will depend on how your latest performance evaluation unfolds. You’re trying to improve your relationship, but you don’t like the advice you’re getting from your therapist. Your newest client seems satisfied overall, but he finds something trivial to criticize whenever the two of … Learn More About This Program
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 Pull Ahead of the Pack with a “Negotiauction”
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 Deal Making: When You Hold All the Cards
“I’ve always had a Republican partner, every time,” says former Democratic senator Chris Dodd, speaking of his legislative victories during his 30 years of service.
Members of Congress do not always need bipartisan support to push through their legislative agendas, yet some of the most significant initiatives passed by the U.S. Senate and House of Representatives … Read Bringing Congress back to the negotiating table
In a related maneuver aimed at protecting the weaker party to the deal, courts might infer additional terms within the contract or expand common-law notions of fiduciary duty.
Consider the famous case of the Page brothers – let’s call them “Big Page” and “Little Page” for simplicity – who started a linen supply company in Santa … Learn More About This Program
A recent ruling by a regional branch of the National Labor Relations Board (NLRB) raises the question of whether college football and basketball players will engage in the kind of collective dealmaking with university administrations that is found in business and government.
In March, the NLRB in Chicago sided in favor of a group called the … Learn More About This Program
On November 29, 2011, the same day American Airlines filed for bankruptcy, US Airways CEO Doug Parker called American head Tom Horton to discuss a possible merger. Horton rebuffed Parker, saying airline needed to spend time reorganizing and renegotiating its labor contracts before focusing on a deal, the Wall Street Journal reports. … Learn More About This Program
It wasn’t a single mega-deal, but possibly thousands of small ones that sprang up following the publication of Facebook COO Sheryl Sandberg’s book Lean In: Women, Work, and the Will to Lead this year. … Read Top Ten Business Deals of 2013: Women Lean In
When you know little about the asset at stake or the context, it makes sense to hire experts to do your negotiating for you—as long as you carefully monitor their work, align their financial incentives as closely as possible with your interests, and question their advice. … Read Top Ten Business Deals of 2013: Yahoo buys Tumblr
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