Negotiation preparation tool

Copyright © 2025 LexisNexis
Published by a LexisNexis Practice Management expert
Precedents

Negotiation preparation tool

Copyright © 2025 LexisNexis

Published by a LexisNexis Practice Management expert

Precedents

Key points

What are you negotiating about and what is on the table?[Make sure you have a very clear understanding of the subject matter of the negotiation. Are any items specifically excluded from the negotiation? Should they be?]
What are your objectives?[Think about what you want to achieve from this negotiation]
What are your priorities?[Think about what you must achieve, what you would like to achieve and what is a nice to have]
With whom will you be negotiating?[Think about what you know about them and what you need to know]
Where will you start?[What is your opening position and what is theirs likely to be?]

Balance of power

Size[Is the size of either party relevant, eg can you trade volume purchases for better pricing?]
Current market[Do current market conditions affect you? If yes, could those conditions change soon?]
Knowledge[What do you know about
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Jurisdiction(s):
United Kingdom

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