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Question & Answer

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Biggest challenges faced by solicitors in their approach to negotiations

Robin Wagner from London Asks:

In your opinion, what are the biggest challenges faced by solicitors in their approach to negotiations?


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Answer:

Solicitors are trained to create winners & losers. Research tells us that successful negotiations are those where all parties believe they have entered into an agreement that they can live with. We know that the biggest contributor to deal satisfaction is the degree to which we managed to obtain concessions from our counterparties. Both these elements can often be counter intuitive to the legal profession as they may be seen to ‘weaken’ one’s position should negotiations fail and end up in litigation.

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The Negotiation Academy (TNA) – http://www.negotiationeurope.com - is a specialist business negotiation management consultancy headquartered in London. Committed to delivering both best and leading practice business negotiation solutions, TNA collaborates with clients to instil a world class negotiation capability. With deep industry experience in several market sectors, global resources and a proven track record, TNA is uniquely positioned to assist clients to avoid the losses associated with sub optimal negotiations. TNA has a core competency in sales negotiation training , purchasing negotiation training and executive negotiation training (mergers & acquisitions negotiation training, asset management negotiation training, corporate finance negotiation training etc.)