FAQs/Glossary

Leave Yourself Room To Negotiate

Both Buyers and Sellers often ask for more than they need. Their intention is to lower the expectations of the other party and gain a concession at the start of the negotiation without having to make a concession in return. Opening offers should always be justified with reasons and/or documentation. This initiates the dialogue of [...]

By |2020-12-30T16:32:50-05:00December 30, 2020|

Legitimacy

That which is authoritative, official, authentic. Examples include written documents, standard terms and conditions, company policies, and price schedules that are perceived as more legitimate than the spoken word. They have a tendency to make things non-negotiable without you having to say "No."

By |2020-12-30T16:32:50-05:00December 30, 2020|

Lie-For-A-Lie

A negotiator suspects the other negotiator is lying and retaliates with lies of their own. A negative use of Quid-Pro-Quo.

By |2020-12-30T16:32:50-05:00December 30, 2020|

Light-Of-Day Test

An ethical test. Would you be completely comfortable if your actions and statements during this negotiation were printed in full on the front page of the local newspaper or were reported on the news?

By |2020-12-30T16:32:50-05:00December 30, 2020|

Limiting Your Authority Technique

Negotiators often find it useful to limit their own authority. This provides opportunities for a negotiator to gather information, test the other side's positions, and explore potential concessions prior to being pressured into making a decision.

By |2020-12-30T16:32:50-05:00December 30, 2020|

Limits

Limits can involve time, money, authority, capacity, or expertise. "I can't agree to anything longer than 90 days." "We only have $$$ to spend." I don't have the authority to sign this." Limits provide opportunities for discovery. Options that might be available considering your limits. Limits can be real or imaginary.

By |2020-12-30T16:32:50-05:00December 30, 2020|

Linking

Make your agreement contingent upon the other side agreeing to another, maybe unrelated issue.

By |2020-12-30T16:32:50-05:00December 30, 2020|

Litigation

A formalised legal process to resolve a dispute through legal action in the form of a lawsuit. It often entails a contractual issue. It is the act of either bringing or challenging a lawsuit.

By |2020-12-30T16:32:50-05:00December 30, 2020|

Little Shot Complex

don't dwell on your own poor negotiating position—your pressures. Remind yourself that the other side also has pressures. Turn your attention to their pressures, not yours.

By |2020-12-30T16:32:50-05:00December 30, 2020|

Lose – Lose Negotiation

A negotiation result where all parties to a negotiation leave resources or gold on the table at the conclusion of a negotiation and fail to recognize or exploit more creative options that would lead to a "win-win" negotiated outcome. A term also used in "Game Theory" and Economics.

By |2022-11-18T15:11:11-05:00December 30, 2020|
Go to Top