negotiation in a down economy
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Some helpful hints for negotiating from a position of weakness in difficult economic times. Given to the LACBA Solo and Small Firm and Legal Tech conference in June of 2009TRANSCRIPT
Negotiating in a Down Economy Negotiating in a Down Economy LACBA Solo & Small Firm and Legal Tech ConventionLACBA Solo & Small Firm and Legal Tech Convention
Victoria Pynchon and the Hon. Alexander Williams, III (Ret.) Victoria Pynchon and the Hon. Alexander Williams, III (Ret.)
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• 5 years full-time neutral experience• 25 years commercial litigation/trial
experience• LL.M Dispute Resolution, Straus
Institute• 20 years teaching experience
– Business Law, Cal State Northridge– Negotiation & Mediation Strategy &
Tactics: Straus Institute, UCLA Anderson School of Management, USC Law School, Fortune 500 In-house counsel, AmLaw 200 firms
– National Institute of Trial Advocacy
Hon. Alexander Williams III
Settled hundreds of major civil cases as Superior Court Judge (24 years)
Full-time Settlement Judge for 3 yearsAdjunct Professor, Straus Institute for Dispute
ResolutionCo-Teacher, California Judicial College Civil
Settlements CourseInstructor, Los Angeles Superior Court
Settlement CoursesHundreds of hours of formal ADR training
(Pepperdine, Harvard, ABA, et al.)“Peacemaker of the Year,” Southern California
Mediation Association
Why do people seek the services of attorneys?
Relative Benefits v.
Absolute Numbers
Persuasion Exercise
• Object of the game– Get your partner to come
over to your side of the line
– The winners will each will $1.00
What do we most want to know
What do they WANT??????
Tit for Tat Most Successful Negotiation Strategy
• Cooperate• Retaliate for failure to
cooperate• Quickly forgive• Return to cooperation
Dealing with Difficult People
Behind every accusation is a cry for help
They’re not difficult They are uninformed
They don’t understand the case lawThey haven’t considered trading items of low value to them but high value to you
They don’t foresee the bright economic future you doThey are too distracted by emotional considerations to make rational choices
You haven’t given them a way to accept your view without losing face
They are not irrational They have hidden constraints
They’re not evil; they have hidden interests.
From Bazerman & Malhotra, Negotiation Genius
Gaining the Upper Hand
The Population of Syria
18,448,752
– Nature of problem deal is capable of resolving
– Characterize deal in way favorable to your strengths
• Routine extension of old rather than new “deal”
• View sale of biz as stand-alone vs. synergy created by acquisition by buyer
– Focuses on future rather than present
– Focuses on value to BOTH parties
framing
Negotiating from a Position of Weakness
Don’t reveal own weaknessLeverage their Weakness
Identify and value your worthEstablish metrics of value that satisfy party interests:
attorney-client partner-associate
plaintiff-defendant attorney-judge
Reframe Weakness as Strength
• 1912 Presidential campaign
• Used photo of Roosevelt without permission
• 3 million copies printed• Penalty $1/copy
• Telegram: planning to print 3 million copies of campaign speech. Excellent opportunity for photographers.
• How much are you willing to pay us to use your photograph?
• “Appreciate opportunity but can afford to pay $250.”
Be consciousBe curious
Ask questionsReflect back answersRequire cooperation
Problem solve