Negotiation preparation tool
Negotiation preparation tool

The following Practice Management precedent provides comprehensive and up to date legal information covering:

  • Negotiation preparation tool

Negotiation preparation tool

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]
Who will you be negotiating with[Think about what you know about them, what you need to know]
Where to 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 the other side? What are they typically influenced by?]
Time[Is time a factor for either side, eg your client desperately wants to bring their matter to an end]
Brand[Are there any brand

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