While many of our articles discuss negotiation theory and the latest research, sometimes it helps to discuss negotiation examples in real life when offering negotiation tips and advice. The following negotiation example is based on bargaining in real estate, a negotiation scenario many of us may face in our lifetime.
… Read Negotiation Examples in Real Life: Buying a Home 
Guhan Subramanian
The following items are tagged Guhan Subramanian:
Unlocking Value in Complex Business Deals
Bonus day for December Negotiation and Leadership program.
Gain the strategies, tools, and frameworks you need to manage difficult conversations effectively in this program led by negotiation experts Sheila Heen and Douglas Stone.
… Read Unlocking Value in Complex Business Deals
Negotiation and Leadership Spring 2025 Program Guide
It’s often said that great leaders are great negotiators. But how does one become an effective negotiator? On-the-job experience certainly plays a role, but for most executives, taking their negotiation skills to the next level requires outside training.
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Take your BATNA to the Next Level
If your current negotiation reaches an impasse, what’s your best outside option? Most seasoned negotiators understand the value of evaluating their BATNA, or best alternative to a negotiated agreement, a concept that Roger Fisher, William Ury, and Bruce Patton introduced in their seminal book, Getting to Yes: Negotiating Agreement Without Giving In (Penguin, 1991, second … Read Take your BATNA to the Next Level
Negotiation and Leadership: Dealing with Difficult People and Problems
Negotiation and Leadership: Dealing with Difficult People and Problems THREE-DAY PROGRAM | June 9–11, 2025
Our program will feature:
Role plays and negotiation exercises—You’ll have the opportunity to test what you learn by taking part in realistic negotiations with your fellow participants.
One-on-one interaction with top faculty—You’ll have the opportunity to talk one-on-one with negotiation experts from Harvard, and … Read More
Managing Multiparty Negotiations
If you’re in a negotiation with many parties who have varying positions, it may be tempting to join a coalition with parties who share at least some of your goals. But should you join one?
… Read Managing Multiparty Negotiations
Right of First Refusal: A Potentially Win-Win Negotiation Tool
Looking for ways to get more value out of your sales negotiations? You may be able to do so by negotiating a right of first refusal. A right of first refusal, also known as a matching right or right of first offer, is a contractual guarantee that one party to a business deal can match … Read More
Negotiation and Leadership: Dealing with Difficult People and Problems
Negotiation and Leadership: Dealing with Difficult People and Problems THREE-DAY PROGRAM | May 12–14, 2025
Our program will feature:
Role plays and negotiation exercises—You’ll have the opportunity to test what you learn by taking part in realistic negotiations with your fellow participants.
One-on-one interaction with top faculty—You’ll have the opportunity to talk one-on-one with negotiation experts from Harvard, and … Read More
Dealmaking: Secrets of Successful Dealmaking in Business Negotiations
Discover how to boost your power at the bargaining table in this free special report, Dealmaking: Secrets of Successful Dealmaking in Business Negotiations, from Harvard Law School.
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Dear Negotiation Coach: Coping with a Change-of-Control Provision
We recently received a question regarding a change-of-control provision and how to move forward with potentially renegotiating a contract. We spoke with Faculty Chair, Program on Negotiation at Harvard Law School, Guhan Subramanian, to answer the question.
… Read More
Negotiation and Leadership: Dealing with Difficult People and Problems
Negotiation and Leadership: Dealing with Difficult People and Problems THREE-DAY PROGRAM | April 7–9, 2025
Our program will feature:
Role plays and negotiation exercises—You’ll have the opportunity to test what you learn by taking part in realistic negotiations with your fellow participants.
One-on-one interaction with top faculty—You’ll have the opportunity to talk one-on-one with negotiation experts from Harvard, and … Read More
Win-Win Bargaining: Private Negotiation, Public Auction, or Both?
Win-win bargaining requires us to choose the right dealmaking process. News stories involving Amazon and Apple highlight the pros and cons of private negotiations, public auctions, and hybrid negotiauctions.
… Read More
Negotiation and Leadership: Dealing with Difficult People and Problems
Negotiation and Leadership: Dealing with Difficult People and Problems THREE-DAY PROGRAM | December 2–4, 2024
Our program will feature:
Role plays and negotiation exercises—You’ll have the opportunity to test what you learn by taking part in realistic negotiations with your fellow participants.
One-on-one interaction with top faculty—You’ll have the opportunity to talk one-on-one with negotiation experts from Harvard, and … Read More
Negotiating with Liars: Bluffing versus Puffing
How many times have you sat at the bargaining table, and wondered, “am I negotiating with liars?” And to your own self be true—how many times have you been untruthful in a negotiation? The example below shines a light on how lies can get negotiators into hot water.
… Read Negotiating with Liars: Bluffing versus Puffing
Secrets of Successful Dealmaking
Course Dates: This course is closed
In corporate dealmaking, much of the action happens away from the negotiating table. Successful dealmakers understand that deal set-up and design greatly influence negotiation outcomes. In this program, you will examine the legal, tactical, and structural elements of dealmaking and acquire practical skills and techniques for navigating difficult tactics and … Read Secrets of Successful Dealmaking
Amazon–Whole Foods Negotiation: Did the Exclusive Courtship Move Too Fast?
In the Amazon–Whole Foods negotiation, an insistence on exclusivity led the two parties to quickly get down to business. But speed may have led them to overlook an important factor: culture.
… Read More
A Top International Negotiation Case Study in Business: The Microsoft-Nokia Deal
Let’s look at the international negotiation case study of Microsoft’s decision to purchase Finnish mobile phone company Nokia’s mobile device business for $9.5 billion. The deal, which closed in 2014, quickly proved disastrous: Microsoft wrote off nearly all of the deal’s value and laid off thousands of workers in July 2015. Although there were many … Read More
Negotiation Logistics: Best Practices for Better Deals
Negotiators are often so intent on preparing for the substance of a negotiation—researching the other party, analyzing their alternatives, and so on—that they neglect to devote adequate time to critical negotiation logistics, such as where to negotiate, how formal or informal talks should be, and even the shape of the negotiating table.
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How to Create Win-Win Situations
In business negotiation, a win-win agreement may be the ultimate goal, but it can sometimes prove elusive. Here, we offer four strategies from experts at the Program on Negotiation at Harvard Law School on how to create win-win situations in even the trickiest negotiations.
… Read How to Create Win-Win Situations
5 Win-Win Negotiation Strategies
Business negotiators understand the importance of reaching a win-win negotiation: when both sides are satisfied with their agreement, the odds of a long-lasting and successful business partnership are much higher. But concrete strategies for generating a win-win contract often seem elusive. The following five, from experts at the Program on Negotiation at Harvard Law School, … Read 5 Win-Win Negotiation Strategies
In Contract Negotiations, Agree on How You’ll Disagree
During the course of a complex negotiation, the last thing we want to think about is the possibility that a serious disagreement or contract breach will arise during the implementation stage. Yet we also know that such conflicts are common.
… Read More
What is Anchoring in Negotiation?
What exactly is anchoring in negotiation, and how does it play out at the bargaining table? Consider this anchoring bias example from Harvard Business School and Harvard Law School faculty member Guhan Subramanian. While running a negotiation simulation in one of his classes, Subramanian noticed that one student spent a considerable amount of time explaining … Read What is Anchoring in Negotiation?
Writing the Negotiated Agreement
Some negotiations end with a negotiated agreement that is a plan of action rather than a signed contract – for example, a plumber agrees to fix the tile damage caused by his work. Other negotiations wouldn’t be appropriate to commemorate in writing, such as how you and your spouse decide to discipline your young … Read Writing the Negotiated Agreement
Dealmaking and the Anchoring Effect in Negotiations
The following question regarding the anchoring effect was asked of Program on Negotiation faculty member and Harvard Business School and Harvard Law School professor Guhan Subramanian.
… Read More
Dear Negotiation Coach: When Silence in Negotiation is Golden
In Western cultures, many people are uncomfortable with silence. We tend to talk on top of one another, with little pause between point and counterpoint. Any silence that occurs often feels awkward, as you’ve experienced. But effective negotiators know that silence in negotiation can be a useful tool. Here are four advantages of silence.
… Read More
Lessons from M&A Negotiation Strategy: Should You Hire an Agent?
No matter the size of your deal, there’s a lot that business negotiators can learn from the high-flying world of mergers and acquisitions (M&A). In particular, a shift in technology firms’ M&A negotiation strategy during the 2010s is worth revisiting for what it can tell us about the role of agents in negotiation.
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Deal-Making Don’ts: Lessons from Yahoo’s Tumblr Acquisition
On May 19, 2013, internet company Yahoo announced it was purchasing the blogging service Tumblr for about $1.1 billion in cash. The acquisition was intended to put a fresh face on the aging Internet company and provide it with a profitable revenue source. But those plans didn’t play out: In August 2019, Tumblr was bought … Read More
What is BATNA? How to Find Your Best Alternative to a Negotiated Agreement
Your BATNA, or the ability to identify a negotiator’s best alternative to a negotiated agreement, is among one of the many pieces of information negotiators seek when formulating dealmaking and negotiation strategies. If your current negotiation reaches an impasse, what’s your best outside option?
… Read More
7 Tips for Closing the Deal in Negotiations
“ABC: Always Be Closing.” That’s the sales strategy that actor Alec Baldwin’s character Blake shared in the 1992 film Glengarry Glen Ross as he tried to motivate a group of real estate salesmen. In his verbally abusive, profanity-laced speech, Blake presented a ruthless model of closing a business deal that ignores customers’ needs and cuts … Read 7 Tips for Closing the Deal in Negotiations
Michael Scott, Negotiation Genius? Lessons from TV Negotiations
Business negotiators can get useful advice from a variety of sources, from books to blogs to training and classes—and even, as it turns out, from TV shows. As you may have noticed, negotiations frequently play out on TV: from hostage negotiators on police procedurals to fast-talking lawyers in corporate boardrooms to the real-life entrepreneurs and … Read More
Negotiation Advice for Buying a Car: Tips for Improving Your Negotiating Position
How can you negotiate the best possible price for a new car? This is a common negotiation question, and naturally so. A car is one of the most significant purchases you’ll ever make—and the price is almost always negotiable. Here are a few tips to improve your performance.
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Understanding Exclusive Negotiation Periods in Business Negotiations
The clearest method for achieving exclusivity in negotiation is an exclusive negotiation period during which both sides agree not to talk to third parties, even if approached unexpectedly by others. In some arenas, these terms are called no-talk periods.
… Read More
Try a Contingent Contract if You Can’t Agree on What Will Happen
In negotiation, all the goodwill, trust, and cooperation you create can seem useless if you and your negotiating counterpart disagree about how future events may play out. In such cases, a contingent contract can be a highly useful, though widely overlooked, tool for creating value in negotiation.
… Read More
Creative Deal Structuring: Negotiating Conditions
Creative deal structuring can transform an unappealing offer into one you’re happy to accept. Here’s how to negotiate deal conditions that will help get you more of what you want.
… Read Creative Deal Structuring: Negotiating Conditions
Negotiation Journal celebrates 40th anniversary, new publisher, and diamond open access in 2024
The MIT Press is proud to announce it is the new publisher of Negotiation Journal, and that the journal will become a diamond open access publication in 2024. Founded in 1984 and copublished with the Program on Negotiation (PON), which is a consortium of Harvard, MIT, and Tufts housed at Harvard Law School, Negotiation Journal … Read More
Best Negotiation Books: A Negotiation Reading List
Whether you are facing negotiations with Congress, colleagues, customers, or family members, the following negotiation books, published in recent years by experts from the Program on Negotiation, offer new perspectives on common negotiating dilemmas.
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Beware the Winner’s Curse in Auctions
In 2017, Amazon announced it was taking bids from cities interested in being the site of its second headquarters, known as HQ2. The online behemoth said it would be investing $5 billion in a campus and creating 50,000 well-paying jobs. Cities and regions across North America snapped to attention, and Amazon received 238 proposals.
… Read Beware the Winner’s Curse in Auctions
How To Avoid a Business Contract Bidding War
Back in 2014, Nike was the undisputed king of superstar endorsements, dominating the field by paying top talent millions for the right to sell lines of collectible shoes in their names. But sportswear and footwear supplier Under Armour made a bold play to change the landscape. Basketball star Kevin Durant, then of the Oklahoma City … Read How To Avoid a Business Contract Bidding War
How to Portray Confidence in Negotiation So You Don’t Look Desperate
In our negotiations, we all regularly cope with counterparts who try too hard—such as salespeople who pester us with phone calls or show up at our office or home unannounced. Their desperation to reach a deal comes through loud and clear, making them seem not only annoying but also potentially ripe for exploitation. At the … Read More
6 Bargaining Tips and BATNA Essentials
The best bargaining tips taught by the experts should offer ways to enhance your bargaining power in negotiation. To do this, you must cultivate a strong BATNA, or best alternative to a negotiated agreement. The more appealing your best alternative is, the more comfortable you will feel asking for more in your current negotiation—secure in … Read 6 Bargaining Tips and BATNA Essentials
5 Good Negotiation Techniques
You’ve mastered the basics of good negotiation techniques: you prepare thoroughly, take time to build rapport, make the first offer when you have a strong sense of the bargaining range, and search for wise tradeoffs across issues to create value. Now, it’s time to absorb five lesser-known but similarly effective negotiation topics and techniques that … Read 5 Good Negotiation Techniques
When Armed with Power in Negotiation, Use It Wisely
The buzz of excitement that arose in February 2015 at the news that Harper Lee, author of the beloved novel To Kill a Mockingbird, would be publishing a second novel quickly turned to concern. The 88-year-old Lee, who suffered a stroke in 2007 and resided in an assisted-living facility in her hometown of Monroeville, Alabama, … Read More
Creative Negotiation Moves: When a Couple’s Deals Became One
Creative negotiation involves thinking outside the box—seeing the broader possibilities available beyond conventional practice. It’s perhaps no surprise, then, that industry outsiders often are best positioned to negotiate creatively because they are less familiar with “how things are done.”
… Read More
In Negotiauctions, Try a Game-Changing Move
Often in business negotiations, we must compete not only with a counterpart across the table but also with others fighting for the same deal. A procurement officer may announce to a longtime supplier that she is putting their contract up for an auction. Or bidders for a company might be invited to negotiate elements of … Read In Negotiauctions, Try a Game-Changing Move
Power in Negotiation: Examples of Being Overly Committed to the Deal
When you’re more tightly bound to an agreement than your counterpart is, trouble could follow in negotiation. Manage your escalation of commitment—and level the playing field.
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In Negotiation, How Much Authority Do They Have?
While hammering out an agreement during negotiation, a mid-level manager offered a customer a significant price discount. When the discount failed to materialize, the customer sued. In response, company representatives argued that the manager did not have the authority to offer the discount. Who is right?
… Read In Negotiation, How Much Authority Do They Have?
How to Negotiate Under Pressure
At the time, it seemed to be an example of coolheaded dealmaking in the midst of disaster. In 2009, hit hard by the 2008 financial crisis and changes in consumer preferences, U.S. automaker Chrysler was on the brink of collapse, and the Treasury Department stepped in to do a deal. In exchange for about $12 … Read How to Negotiate Under Pressure
Business Negotiation Examples: Choose the Best Kind of Auction
There are many business negotiation examples involving auctions. Suppose you’ve weighed the pros and cons of selling an asset via auction or negotiation and decided an auction is the best choice. What kind of auction should it be?
… Read More
Dear Negotiation Coach: Negotiating a Win Win Relationship with Friends
Though we’re often advised against mixing friends and business, it’s not only inevitable at times; it can also be beneficial to everyone involved. The key is to negotiate in a way that ensures a win win relationship between parties, and in bigger business deals, that may include seeking outside help.
We connected with Guhan Subramanian, Joseph … Read More
Business Negotiation Skills: How to Deal with a Failing Business Partnership
It had seemed like the beginning of a fruitful relationship. In April 2012, six wealthy businessmen teamed up to buy the Philadelphia Inquirer and several affiliated businesses for $61.1 million, promising to work together to reverse the newspaper’s flagging fortunes. Their infusions of cash and appointment of a Pulitzer Prize–winning reporter, William K. Marimow, as … Read More
Alternative Dispute Resolution (ADR): Negotiating for the Right Mediator
Knowing what to look for in a mediator is key to successful dispute resolution. Know what qualities to look for, the purpose of the mediator, and how alternative dispute resolution (ADR) processes like mediation can benefit even the most entrenched disputes.
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Dear Negotiation Coach: Deal Structuring and Negotiating with “Bad Acts”
Deal structuring and negotiating can feel challenging in the best of situations. But when you’re dealing with “bad acts,” there are additional factors to consider when you structure your negotiation strategy. This is what one reader asked about when facing a deal to buy out a company. Here’s their question:
Q: I work for an international … Read More
Dear Negotiation Coach: Can External Advisers Hinder a Problem Solving Approach?
There are numerous advantages to hearing from external advisers and experts in a high-stakes negotiation. However, when talks are at an impasse, limiting the negotiation to a small number of participants may be a more beneficial problem solving approach than including outside opinions.
This was at the heart of a recent question answered by Guhan Subramanian, … Read More
In Crisis Negotiations, Stay Rational Under Pressure
At the time, it seemed to be an example of coolheaded dealmaking in the midst of disaster. In 2009, hit hard by the 2008 financial crisis and changes in consumer preferences, U.S. automaker Chrysler was on the brink of collapse. The U.S. Treasury Department stepped in to run a crisis negotiation. In exchange for about … Read More
Dear Negotiation Coach: Creating a Win Win Relationship in Business
I am trying to buy a smaller company in my industry, but the negotiations have stalled over price.
It probably won’t surprise you to hear the seller thinks his company is worth a lot more than I think it is. So far we have been talking about doing a straight cash deal, but now I’m contemplating … Read More
Dear Negotiation Coach: Determining the Right Compensation Offer After a Disaster
In the aftermath of a large-scale catastrophe or disaster in the United States—such as 9/11, the opioid epidemic, and mass shootings—the courts can be ill-equipped to take on the complex task of negotiating a compensation offer for large numbers of claimants. Instead, “special masters” are often assigned to create and administer victim-compensation programs, a job … Read More
Dear Negotiation Coach: How Do I Handle Reverse Auctions in a Business Contract Negotiation
Reverse auctions are becoming a more frequent reality of business contract negotiations as companies work to cut expenses. In most negotiations, however, price is not the only issue. Guhan Subramanian, Joseph Flom Professor of Law & Business at Harvard Law School and Douglas Weaver Professor of Business Law at Harvard Business School, answered a question … Read More
Closing the Deal in Negotiations: Should “Deal” Be a Dirty Word?
When negotiators take a long-term approach to deal-making, the result is typically a win-win. Rather than simply trying to sign a contract on favorable terms, negotiators who discuss how those terms might play out over the life of the contract are more likely to set the partnership up for success. After all, when negotiators merely … Read More
Dear Negotiation Coach: How Can I Use Deal Structuring and Negotiating to Resolve an Impasse?
When two sides seem far apart on a contract dispute, careful and creative deal structuring and negotiating can often result in a winning agreement for both sides. Here’s an example of how that might look in a business deal, based on a question we recently received.
“My company, a large multinational, contracts with an outside vendor … Read More
Dear Negotiation Coach: Coordinating Teams to Get Everyone in the Same Frames
Q: I lead a team of approximately 50 lawyers in the in-house legal department of a Fortune 500 company. As our team gets larger, reflecting the company’s growth, I’d like to install quality-control measures to ensure that all our attorneys are effectively negotiating settlements when appropriate and taking cases to trial when not. What are … Read More
How to Build a Relationship at the Bargaining Table During Business Negotiations
Coming together with negotiating counterparts at the bargaining table is a situation fraught with potential mishaps, all of which are compounded by the pressure to get the best deal a negotiator can for herself or her organization.
… Read More
In Contract Negotiation, Wise Business Negotiators Sweat the Small Stuff
What are business negotiators responsible for in contract negotiation? Many would say they’re in charge of building relationships and new business, crafting creative solutions, and fighting for the best deal possible. Few, however, would say they’re responsible for ensuring that the deal holds up well over time.
… Read More
Alternative Dispute Resolution (ADR) Techniques: Negotiating Conditions
A married couple was debating whether their four-year-old daughter should attend public or private elementary school. It was a difficult issue, and Mike had a tendency to walk out when the conversation got heated. Frustrated, Lisa turned to negotiating terms and conditions just as a negotiator would in a business deal.
… Read More
Navigating Business Relationships Using Negotiation
A three-year dispute between Starbucks and Kraft Foods over distribution of Starbucks packaged coffee in grocery stores was resolved in 2013 when an arbitrator determined that Starbucks had breached its agreement with Kraft and ordered the coffeemaker to pay the food giant $2.75 billion.
… Read More
Does Small Talk in Negotiation Offer Big Gains?
According to conventional wisdom, small talk builds rapport and gets both sides a better deal in the end. But in fact, the question of whether to engage in small talk can be highly context-specific. New York City investment bankers, for example, tend to be far less likely than Texas oil executives to engage in small … Read Does Small Talk in Negotiation Offer Big Gains?
Right of First Refusal for Real Estate
If you are interested in buying the property you’re renting, but aren’t able to do so immediately, you may benefit by negotiating a right of first refusal from the property owner. A right of first refusal for real estate can create value for buyers and sellers alike. But what is “right of first refusal” in … Read Right of First Refusal for Real Estate
Communicate Your Interests Behind the Deal
As integrative negotiations students know well, focusing on interests in negotiation has proven to be the most reliable way to create value and resolve conflicts. Experience indicates that communicating with your lawyers the motivations behind a deal or negotiated agreement is well worth the time.
… Read Communicate Your Interests Behind the Deal
Negotiation Techniques from the M&A World
Negotiators often have to deal with more than one party to reach their goals and often tailor their negotiation techniques towards this end. These negotiation scenarios pose unique challenges, yet most negotiation advice focuses on talks between two parties.
… Read Negotiation Techniques from the M&A World
How to Defend Against “Scope Creep” at the Negotiation Table
The following question was asked of Negotiation Coach and PON faculty member Guhan Subramanian in the February 2014 issue of the Negotiation Briefings newsletter:
Question: I run a small consulting firm that has a services contract with a major multinational corporation. The team we work with has a bad habit of continually adding items to the … Read More
Harvard Law Professor Guhan Subramanian Moderates Panel on Difficult Negotiation Scenarios
In Harvard Law Today, Brett Milano published an article titled, Catastrophic harms, complicated questions reviewed a recent panel, “Innovative Models for Resolving Disputes after Mass Disasters and Catastrophic Harms,” held at Harvard Law School on Oct. 22. As mentioned in the article, it “brought together three experts who have helped resolve disputes after recent historic … Read More
Fundamental Aspects of Negotiation: Setting the Table
In March 2018, U.S. president Donald Trump shocked even his own White House staff when he revealed that he had accepted an invitation to meet with North Korean leader Kim Jong-un. After months of name-calling and threats between Trump and Kim, the news that the two leaders would discuss the possibility of North Korea dismantling … Read More
Must-Read Negotiation Books for 2019
The year 2017 offered plenty of negotiation hits and misses in the realms of government, business, and beyond. To avoid failed negotiations in 2018, politicians, business leaders, and the rest of us would be wise to explore the following recent negotiation books, which can help steer us through our most difficult negotiating dilemmas:
… Read Must-Read Negotiation Books for 2019
Case Study of Business Negotiations and Deal Making: Giving Voice to Negotiators Away from the Bargaining Table
Sometimes negotiators focus too much on the bargaining session at hand, to the detriment of bargainers away from the negotiation table, a group whose concerns and input is just as valid as those of the negotiators themselves. Here are some negotiation tips to help make sure your bargaining strategies include the voices and concerns of … Read More
Business Negotiation Examples: Choose the Best Kind of Auction
There are many business negotiation examples involving auctions. Suppose you’ve weighed the pros and cons of selling an asset via auction or negotiation and decided an auction is the best choice. What kind of auction should it be?
… Read More
Negotiate Business Contracts that Last
After engaging in the complex process of business negotiation, business negotiators are often happy to pass off the technicalities of deal drafting to their attorneys. Unfortunately, this handoff is prone to errors. Vague, contradictory, and missing deal terms are not uncommon, and they can lead to serious problems during the implementation stage, according to Harvard … Read Negotiate Business Contracts that Last
Setting the right table
On March 8, U.S. president Donald Trump shocked even his own White House staff when he revealed that he had accepted an invitation to meet with North Korean leader Kim Jong-un. After months of name-calling and threats between Trump and Kim, the news that the two leaders would be discussing the possibility of North Korea dismantling … Read Setting the right table
Bargaining at a Fever Pitch
Have you ever won an auction only to realize later that you overbid for the prize? In competitive bidding situations, it’s easy to get carried away in the heat of the moment and overpay. The Boston Red Sox 2006 procurement of Japanese pitching phenomenon Daisuke “Dice-K” Matsuzaka offers a lesson in keeping cool in these … Read Bargaining at a Fever Pitch
An Exclusivity Period: A Useful Tool for Eliminating the Competition
Imagine you’re competing with multiple parties to secure a coveted resource, such as your dream house, a cool invention, or a talented new hire. How might you stand out from the pack and win the prize? While negotiating its $13.4 billion acquisition of upscale grocer Whole Foods in 2017, online retailer Amazon did so in … Read More
Subramanian Will Succeed Mnookin as Program on Negotiation Chair
Professor Guhan Subramanian ’98 will be the new chair of the Program on Negotiation (PON) at Harvard Law School. Subramanian holds appointments at both Harvard Law School, where he is the Joseph H. Flom Professor of Law and Business, and Harvard Business School, where he is the H. Douglas Weaver Professor of Business Law. As chair of PON, he … Read More
The Winner’s Curse: Will You Be Its Next Victim?
Imagine that you’re up for a new job that you’d like very much. At the end of a long hiring process, the HR manager asks you to name your price. You propose a salary that you believe to be ambitious, expecting some haggling to follow. Instead, the HR manager smiles and holds out her hand … Read More
Business Negotiations: Matching Rights – The Fundamentals
When the mergers-and-acquisitions boom began in 1993, many deals simply required the seller to let the buyer know if a “superior proposal” came along. By the late 1990s, buyers were demanding – and receiving – more than this: an exclusive negotiating period of several days, during which they could decide to match or improve upon … Read More
Negotiation in the News: Before building a coalition, consider the consequences
This past July, the News Media Alliance (NMA), a trade association of approximately 2,000 U.S. and Canadian news organizations, announced that it was planning to ask Congress for a limited antitrust exemption to allow its members to negotiate collectively with Google and Facebook regarding digital advertising. With consumers increasingly accessing their news through web platforms, … Read More
Video: Setting the Stage for Productive Negotiations
Understanding how to arrange the meeting space is a key aspect of preparing for productive negotiations. In this video, Guhan Subramanian, professor at Harvard Law School and Harvard Business School, discusses a real world example of how seating arrangements can influence a negotiator’s success. The discussion was held in his negotiation training workshop “Setting the … Read More
Win-Win Business Negotiations: The Wachovia Buyout
Changing financial and legal conditions can create and destroy wealth in the blink of an eye. How does a negotiator take advantage of such periods of change? During the financial crisis of 2008, Wachovia Corporation found itself looking for a buyer to avoid collapse while the financial industry as a whole was the grips of … Read More
How to Write a Contract: Three Deal-Drafting Pitfalls
The transfer of an agreement from negotiators to lawyers or other professional deal drafters can introduce three main types of mistakes. Read on to discover how you can avoid making these same mistakes at the bargaining table during your next dealmaking negotiation session.
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Contract Negotiations: Before You Sign on the Dotted Line
When times are tight, contracts are often broken. These days, parties on both sides of sales agreements are struggling to fulfill their promises, and contract workers are having trouble getting paid by their employers.
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Dealmaking: Avoiding Pitfalls in Deal Drafting
Whatever the root causes of faulty drafting, negotiators need to better understand and manage certain aspects of the deal drafting process. Here are three ways to ensure that breakdowns don’t occur on the way from handshake to contract.
… Read Dealmaking: Avoiding Pitfalls in Deal Drafting
Is Your Deal Too Good to Be True?
In an episode of the fictional HBO series Silicon Valley, partners in a red-hot technology startup, Pied Piper, receive funding offers from a number of venture capitalist firms. Raviga Capital is by far the highest bidder; its offer of $20 million values Pied Piper at a whopping $100 million.
… Read Is Your Deal Too Good to Be True?
A Bidding War at Sundance
Filmmaker Nate Parker sticks to his dreams in a heated “negotiauction.”
Most sellers dream about driving up the price of a commodity in a bidding war. But how can you stay true to your nonfinancial goals in an auction fixated on price? Nate Parker, the filmmaker, star, and producer behind the film The Birth of a … Read A Bidding War at Sundance
To Reduce Post-Deal Regret, Take an Analytical Approach
Dissatisfied with her first book contract, comedian Amy Schumer canceled it and negotiated a different one.
A better strategy? Lessen your odds of disappointment from the start.
In 2012, David Hirshey, senior vice president and executive editor of publisher HarperCollins, saw Amy Schumer’s stand-up comedy act and was so impressed by the rising star that he offered … Read More
In Business Negotiations, Capitalize on a Right of First Refusal
As dealmakers look for more sophisticated ways to reduce risks and increase returns, a right of first refusal—a contractual guarantee that one side can match any offer that the other side later receives—has become a common and useful tool to add to your business negotiation skills.
Claim your FREE copy: Negotiation Skills
Build powerful negotiation skills and become a better dealmaker and leader. Download our FREE special report, Negotiation Skills: Negotiation Strategies and Negotiation Techniques to Help You Become a Better Negotiator, from the Program on Negotiation at Harvard Law School.
Dear Negotiation Coach: Should You Stay or Should You Go?
Q: As a senior manager at my company, I have spent most of the past year trying to settle litigation with another company in our industry. We are about to go into our third mediation session in a few weeks. However, I have just been promoted to a job where I will have responsibility for … Read More
Lessons in Negotiation: Guhan Subramanian Cited by US Securities and Exchange Commissioner Daniel Gallagher
Program on Negotiation executive committee member and Harvard Law School and Harvard Business School professor Guhan Subramanian was recently cited by Commissioner Daniel M. Gallagher of the United States Securities and Exchange Commission during his opening statement at the Proxy Voting Roundtable.
In discussing the equalizing effect of a universal balloting system on corporate governance, Commissioner … Read More
Negotiation Skills: View Your Counterpart as an Agent
Looking for yet another way to build your power at the negotiating table? Examine the incentives of your counterpart—and then consider whether they align with those of the group she represents. In most business negotiations, notes Harvard professor Guhan Subramanian, your counterpart is acting as her organization’s representative, or agent (just as you’re acting as … Read More
Pull Ahead of the Pack with a “Negotiauction”
Robert Barnett, a corporate attorney based in Washington, D.C., moonlights as a book agent for celebrity politicians—including Barack Obama, Laura Bush, and Bill and Hillary Clinton. New York editors line up to sign Barnett’s clients and, they hope, rake in blockbuster profits.
Barnett’s technique is to introduce his latest superstar to the major publishing houses and … Read Pull Ahead of the Pack with a “Negotiauction”
Business Negotiations: Imposing Procedural Constraints
Sometimes the courts will be unwilling to get involved in the substantive terms of the deal but will impose procedural constraints on the more powerful party.
Consider the case of a controlling shareholder in a publicly traded company – someone who holds more than 51% – who wants to “cash out” the minority shareholders.
Under the corporate … Read More
Deal Making: When You Hold All the Cards
Consider the following hypothetical negotiation scenarios, in which you seem to hold all the cards:
– One of your customers has just landed a lucrative new contract, and you’re the only supplier who can add a critical component to that customer’s production process.
– You own a controlling interest in a publicly traded company and are seeking … Read Deal Making: When You Hold All the Cards
Dealmaking Negotiations: Reading Additional Terms Into the Deal
In a related maneuver aimed at protecting the weaker party to the deal, courts might infer additional terms within the contract or expand common-law notions of fiduciary duty.
Consider the famous case of the Page brothers – let’s call them “Big Page” and “Little Page” for simplicity – who started a linen supply company in Santa … Read More
Program on Negotiation Welcomes Visiting Scholar Stefanos Mouzas
Stefanos Mouzas is Professor of Marketing and Strategy at Lancaster University Management School in England, where he is also affiliated with the Center of Law and Society. He received his B.Sc. (Economics) from the University of Athens, LL.M. (Contract Law) from University of Bristol, and Ph.D. (Marketing) from Lancaster University. He was Visiting Professor … Read More
Matching Rights in Business Negotiations: Advice for the Grantor – Use Matching Rights to Bridge the Gap
In negotiation, including a matching right in an agreement can be a classic win-win move.
Suppose you’re a landlord negotiating with a prospective tenant. You want to maintain the ability to sell the apartment to someone else in the future, while your prospective tenant wants a commitment to rent the apartment for as long as … Read More
A deal blows up
When negotiating a new business partnership, what should you do if you begin to believe that your partner is less attractive than he (or it) first appeared? Duke Energy faced this question during the course of its nearly two years of merger negotiations with Progress Energy.
In July 2012, the two North Carolina– based companies closed … Read A deal blows up
Deal Making Without a Net: Yahoo’s Tumblr Acquisition
On May 19, Internet company Yahoo announced that it was purchasing the blogging service Tumblr for about $1.1 billion in cash. The acquisition could put a fresh face on the aging Internet company and provide it with a profitable revenue source—or it could turn out to be another instance of the Web pioneer overpaying for … Read More
From negotiation to auction: The rise of real-time bidding
Because of a technological innovation called real-time bidding, or RTB, more and more online-advertising transactions are being completed through auctions rather than negotiations. The transformation could foreshadow similar changes in other realms, as negotiations gain the potential to become more automated.
How RTB works
In the dark ages of the Internet, websites would negotiate individually with potential … Read More
Robert Mnookin Honored by International Academy of Mediators with Lifetime Achievement Award
Program on Negotiation Chair Robert Mnookin was honored by the International Academy of Mediators with a lifetime achievement award during the organization’s fall 2012 conference in Cambridge, Massachusetts.
… Read More
Should Your Boss Be at the Negotiation Table?
Imagine that you are about to begin a negotiation whose subject matter is squarely within your area of responsibility at my company. However, the dollar amounts at stake are so large that you are tempted to kick it upstairs to your boss, or at least involve your boss directly in the negotiation. What are the … Read Should Your Boss Be at the Negotiation Table?
Sellers: Stay out of legal hot water
When it comes to business negotiations, you probably understand the importance of being as principled as possible to protect your reputation and ward off legal trouble. You probably expect your counterparts to follow the straight and narrow as well. Yet negotiators often have only a fuzzy grasp of which claims and strategies are legal and … Read Sellers: Stay out of legal hot water
Conflict management from the start
Adapted from “Before You Sign on the Dotted Line…”first published in the Negotiation newsletter, May 2009.
After reaching an agreement, professionals often rely on their lawyers to draw up the official contract. Unfortunately, miscommunication between negotiators and their lawyers often leads to costly mistakes. Contract terms may not accurately represent the negotiated agreement, key deal terms … Read Conflict management from the start
Sizing up the competition
Adapted from “The Ins and Outs of Making Sealed Bids,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter, July 2007.
Imagine you’re bidding for a house against another “very interested party,” according to your real-estate agent, and the seller wants a sealed bid from you by close … Read Sizing up the competition
Don’t rush into a flawed contract
Adapted from “A Contingent Contract? Weigh the Costs and Benefits of Making a ‘Bet’,” by Guhan Subramanian (professor, Harvard Law School and Harvard Business School), first published in the Negotiation newsletter, August 2006.
Contracts in professional sports are often chock-full of contingencies -“bets” that parties place on their different expectations of future outcomes – and former … Read Don’t rush into a flawed contract
Could Your Power Trip Backfire?
Adapted from “When You Hold All the Cards,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter.
Being the more powerful party in a negotiation doesn’t guarantee a free ride. Specifically, legal rules may constrain your actions. In particular, the courts might read additional terms into the deal … Read Could Your Power Trip Backfire?
Professor Subramanian and Professor Bordone featured on Law School Homepage
PON Executive Committee member, Professor Guhan Subramanian and Harvard Negotiation Mediation Clinical Program director, Professor Robert Bordone recently coached Harvard Law School and Harvard Business School students in a day long negotiation exercise. Information about the exercise is featured on the HLS homepage. Click here to read more.
… Read More
Negotiators: Don’t Go on a Power Trip
Adapted from “When You Hold All the Cards,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter.
One of your customers has just landed a lucrative new contract, and you’re the only supplier who can add a critical component to that customer’s production process. Concerns about violating your … Read Negotiators: Don’t Go on a Power Trip
Negotiation? Auction? A Deal Maker’s Guide
Guhan Subramanian, Joseph Flom Professor of Law and Business, Harvard Law School; Douglas Weaver Professor of Business Law, Harvard Business School; Author of Negotiauctions
When you have something to sell, should you hold an auction or negotiate a collaborative deal that delivers maximum value to both sides? In this article, professor Guhan Subramanian compares the risks … Read Negotiation? Auction? A Deal Maker’s Guide
Know your rights!
Adapted from “Matching Rights: A Boon to Both Sides,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiation newsletter.
As dealmakers look for more sophisticated ways to reduce risks and increase returns, a matching right—a contractual guarantee that one side can match any offer that the other side … Read Know your rights!
Prof. Guhan Subramanian featured in Forbes India
Professor Guhan Subramanian was featured in Forbes India in April 2010. Professor Subramanian discusses his latest book Negotiauctions: New Dealmaking Strategies for a Competitive Marketplace, which was published in February 2010.
Click here to read the full article.
Professor Subramanian will be teaching Advanced Negotiation: Deal Design and Implementation at the Harvard Negotiation Institute June 14-18. For … Read Prof. Guhan Subramanian featured in Forbes India
Too much commitment?
Adapted from “Are You Overly Committed to the Deal?” First published in the Negotiation newsletter.
A telecommuter hires a carpenter to build a workstation for her home office. The carpenter’s contract requires payment of 50% upon signing, an additional 30% halfway through the job, and the final 20% upon completion. When the job is done, … Read Too much commitment?
“Are We Exclusive?”
Ron McAfee, a carpenter and roofing expert, spent considerable time working with a condominium association on the design of a new roof deck. After gaining agreement on the proposed layout, design, and materials, McAfee submitted a written bid of $12,500. One of the board members subsequently showed McAfee’s plans to another roofer, who offered to … Read “Are We Exclusive?”
Understand Your Counterpart’s Incentives
Looking for yet another way to build your power at the negotiating table? Examine the incentives of your counterpart—and then consider whether they align with those of the group she represents.
… Read Understand Your Counterpart’s Incentives
Professor Guhan Subramanian featured in TheDeal.com
Guhan Subramanian is one of the most prominent — and ambitious — legal academics of his generation. The 39-year-old is the only person who’s ever held tenured positions at Harvard’s law and business schools, and on the side he advises companies on M&A and corporate governance. After authoring numerous academic papers and a corporate law … Read More
Should You Go Dutch?
Most everyday auctions are English: they begin with an opening bid, continue with ascending bids, and end when the bidding stops. But for some assets, the seller opens at a very high price, then moves down rather than up if all bidders are silent.
… Read Should You Go Dutch?
When Their Agent is the Problem
The benefits of hiring an agent are well known. Yet negotiation experts often overlook the ways in which you can use the other side’s agent to your advantage.
… Read When Their Agent is the Problem
Program on Negotiation saddened by the loss of 2007 Great Negotiator, Bruce Wasserstein
The Program on Negotiation at Harvard Law School was saddened to learn of the death of Bruce Wasserstein, PON’s 2007 Great Negotiator. The Great Negotiator Award is given to recognize an individual whose lifetime achievements in the field of negotiation and dispute resolution have had a significant and lasting impact. Wasserstein, Chairman and CEO of … Read More
Business Negotiation Skills: Negotiate Before the Damage is Done
Suppose you work for a specialty bicycle manufacturer and have negotiated a one-year contract to buy 500 headlamps per month from a supplier for $10 each, with payment due 30 days after receipt. The seller makes five deliveries; you promptly pay $5,000 after each shipment. The seller fails to make the sixth delivery, however, and … Read More
Negotiating the Financial Crisis
Panelists will discuss the negotiation challenges presented by the banking crisis, GM’s restructuring, and the policy making process.
Moderator:
Robert Mnookin, Chair of the Program on Negotiation and Samuel Williston Professor of Law at Harvard Law School
Panelists:
Howell Jackson, Acting Dean and Professor, Harvard Law School
Robert Pozen, Chairman of MFS Investment Management and Senior Lecturer of Business Administration … Read Negotiating the Financial Crisis
Negotiation and Leadership
NEGOTIATION MASTER CLASS
Negotiation Essentials Online
Beyond the Back Table: Working with People and Organizations to Get to Yes
Articles & Insights
BATNA
- Business Negotiations
- Conflict Resolution
- Crisis Negotiations
- Dealing with Difficult People
- Dealing with challenging negotiators
- Negotiating with Difficult Personalities and “Dark” Personality Traits
- M&A Negotiation Strategy: Dealing with an Unpredictable Counterpart
- Bargaining in Bad Faith: Dealing with “False Negotiators”
- Dealing with Difficult People and Negotiation: When Should You Give Up the Fight?
- Dealmaking
- Dispute Resolution
- International Negotiation
- Leadership Skills
- Mediation
- AI Mediation: Using AI to Help Mediate Disputes
- How Mediation Can Help Resolve Pro Sports Disputes
- Mediation Training: What Can You Expect?
- Undecided on Your Dispute Resolution Process? Combine Mediation and Arbitration, Known as Med-Arb
- Types of Mediation: Choose the Type Best Suited to Your Conflict
- Negotiation Skills
- Negotiation Training
- Trust in Negotiation: Does Gender Matter?
- Negotiation Training: What’s Special About Technology Negotiations?
- Cole Cannon Esq. Shares His Negotiation and Leadership Experience
- Gender and Negotiation: New Research Findings
- Ethics and Negotiation: 5 Principles of Negotiation to Boost Your Bargaining Skills in Business Situations
- Salary Negotiations
- Teaching Negotiation
- Act Now to Purchase Materials for Next Semester and Avoid a Price Increase
- Negotiating Identity and Values-Based Disputes
- Learn from the Best with the Great Negotiator Case Studies
- Casino Two: Updated Version of Casino Available from the TNRC
- Teach Your Students How to Have Difficult Conversations Over Email
- Win-Win Negotiations