In sophisticated negotiations, the parties will typically find the standards that favor their side and use their most favorable standards to independently justify the “fairness” of their positions. The parties will then negotiate over which standard represents the...
In a recent LeClairRyan webinar about successful mediating, attorney Robyn Gnudi Kalocsay pointed out that failing to get the agreed-upon terms in writing can be a critical mistake at the end of the negotiation process. She said, “You can leave the mediation thinking...
The Greenberg-Ryan ownership group, which includes Hall of Fame pitcher Nolan Ryan, recently won bankruptcy court approval to purchase the Texas Rangers baseball team for $593 million. This came after a 16 hour auction bidding war with Mark Cuban, owner of the Dallas...
USA Today provides us with another great example of the standards dance – where opposing sides make their case as to why their standards are the “most fair.” In researching compensation differences between government employees and private sector employees, USA...
The Potash Corporation recently received an unsolicited $38.6 billion offer from BHP Billiton. When made, BHP’s bid was 16% higher than Potash’s market capitalization. The Potash board rejected the bid and announced it was seeking additional bids. ...
As the NFL preseason comes to a close, a number of high-profile players are still holding out, some claiming a willingness to skip the season if they don’t get what they want. Why would a player hold out? To strengthen their leverage. The player wants to emphasize...
Hewlett-Packard recently purchased 3Par, a computer storage system company, for $33 per share ($2.3 billion). Dell had engaged in an 18-day bidding war with H.P. but in the end decided not to counter H.P.’s winning offer. What can we learn from this? Evaluating your...
The NFL Players Association provides us with a great example of a party taking concrete steps to limit the attractiveness of one of its counterpart’s alternatives, or Plan Bs. When done right, doing so will strengthen your leverage and improve your results. Here, the...
In August 2000, former White House OMB Director Jack Lew told me “(t)he most critical thing in a negotiation is to get inside your opponent’s head and figure out what he really wants.” In a talk today assessing the Vietnam war, former Secretary of State Henry...
