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Why You Should Participate
Successful negotiations start with thorough preparation. That is the lesson driving the interactive video simulation, “Mastering Negotiations: The Significance of Planning and Preparation.” Instead of rushing into the throes of a negotiation, participants are prompted to learn how to prepare for an upcoming negotiation by taking an important early step in any negotiation; learn the client’s goals and concerns.
In this simulation, the client is an ambitious company that has developed a revolutionary, new technology and is looking to negotiate a non-disclosure agreement with an industry leader for what they hope to be a fruitful manufacturing and marketing partnership. This sophisticated, real-world fact pattern hides within it all the risks and opportunities that may arise in an anticipated negotiation and participants will be challenged to choose the right course to further her client’s interests while protecting it from unwanted exposure.
What You Will Learn
This simulation will address key concepts when preparing for a negotiation, including:
- Identifying and analyzing key resources and facts to begin planning a negotiation on behalf of a client
- Building an approach to extract critical information from a counterpart prior to the negotiation
- Learning how to protect critical client information and recognizing when your counterpart is withholding information
- Crafting statements to persuade your counterpart to understand your client’s perspective during the negotiation
- Designing a “bargaining chart” to project how the limited, fungible and finite items (money, time, etc.) will be divided up during the bargaining phase of a negotiation
- Planning and projecting both parties' shared, independent or conflicting needs
- Proposing solutions to resolve conflicting needs and aligning priorities in order to benefit both sides
Who Should Participate
Law firm lawyers, corporate counsel and legal professionals should find this series relevant and informative.
Preparing to Negotiate 1: The Assignment
Preparing to Negotiate 2: Getting the Information You Need
Preparing to Negotiate 3: Protecting Information
Preparing to Negotiate 4: Using Persuasion
Preparing to Negotiate 5: Zero-sum Bargaining
Preparing to Negotiate 6: Problem-solving Approach