It can be challenging to advocate for yourself, whether it is for an individual purpose or perhaps on behalf of your business. Even as an experienced negotiating attorney, there have been times in my career where I have personally used outside negotiators or professionals to help facilitate a negotiation with respect to my person. It is not uncommon, even in the legal field, for attorneys, professionals, and executives to hire professional negotiators to represent them with respect to career advancement and/or other business opportunities. I believe there is always a benefit to hiring an experienced negotiating attorney to advocate for you with respect to business dealings.
Early in the stages of business dealings or negotiations, an experienced negotiator is going to understand common pitfalls. My firm makes sure that we are overly prepared for the situation and have done more than adequate research into who we are dealing with on the other side of table – whether it be opposing counsel/negotiators, executives, a company including its personnel and principles. An experienced negotiator has a consistent everyday practice in negotiating, which I believe is a true art form. A strong negotiating attorney should know what you want to hold on to at specific intervals in the negotiations, what you want to present early, what you may want to hold till the end of the negotiation, how to handle any surprises, and how to deal with different negotiating styles. An experienced negotiator will give their clients practical guidance and expectations, which leads to good advisement on a negotiation status and what the strategy should be. A core tenet of being a good negotiator is keeping the client in the loop with a sufficient grasp of everything.
Why Do Businesses Commonly Make The Mistake Of Waiting To Hire An Experienced Attorney To Negotiate On Their Behalf?
Most businesses and people are afraid that it will cost them an exorbitant amount of money to hire an attorney to negotiate on their behalf, which is not necessarily true. Depending on what you need in negotiation, the cost can fluctuate. The more complex the research that is required, generally, the more expensive the negotiator will be. Especially in the realm of business, it is usually an in-depth process and investigation.
Overconfidence by a non-negotiator or business owner can also be a common mistake. Sometimes, an individual or business believes they understand practical and legal issues which leads to weakness in negotiating business deals. Often, opposing parties as a strategy will try to redirect your attention from their actual goals misdirecting an unsuspecting and overconfident party in a negotiation to miss a key element of the agreement and unknowingly agreeing to something unfavorable on their part. With a fear of a high cost and overconfidence, many people are wary of hiring a negotiator which can lead to surprises down the road damaging or even ruining a business.
If We’ve Already Accepted An Offer, Is It Too Late To Hire An Attorney To Go Back And Renegotiate A Better Deal?
It is never too late to try and renegotiate. In a contract, there may be specific reasons to back out of an agreement after acceptance. It could be a lack of performance by the other party or even an inspection of a property or business that turned up negative results. There may also be specific conditions present that were never satisfied, which could excuse performance or acceptance. First and foremost, if there is a written agreement, the language must be reviewed to examine the conditions.
Suppose there are no contractual clauses or anything in an agreement that would allow a party to be excused from acceptance or performance. In that case, you’d want to start looking at legal theories for canceling the contract or ultimately making an argument that there was no contract in the first place. Ultimately, you can always request to negotiate a better deal with another party. Contracts are regularly amended, and when you’re amending the contract, it typically requires both parties to execute. Sometimes, there are changed circumstances if you have a good business relationship with somebody and the parties cordially work out a new plan. Sometimes the other party in an agreement may value your business enough to consider amending the agreement rather than pushing forward with more aggressive steps like litigation.
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