Firstly, knowing what the opposing side can offer or has the
ability to do, is essential. Many data management operations involved in competitive
intelligence can provide a full packet, filled will publicly available facts or
privately investigated and discovered secrets, on the opponent. If accurate, these
details on the opponent should form your own wants; the settlement point, and your
own needs; the bottom line. In cases of negotiating to come together, such inquiries
are referred to as due diligence, and are expected to be provided via an
independent trusted source, such as an external auditor. In cases of
separation, such information is more likely to be hidden by parties to maintain
an advantage.
Secondly, the pre-negotiation's rules must be proposed,
amended and agreed to, by all parties involved, especially as it relates, but
not limited, to time, and is subject to the ultimate breakdown in this particular
negotiation. The setting of a deadline, a specific date and time, for the end
of the negotiation period is really about the seriousness each party commits in
writing to the procedure, back by specific penalties; fines or losses attributed
to all sides. Deadlines to submit, exchange and respond to the first
submissions will also limit parties to equal time for consideration, with a
reducing amount of time allocated to each follow-up submissions. Noting that,
meeting venues and other central matters must also be including in the pre-negotiation's
rules.
Thirdly, ask for the maximum with no chance of movement, being
sympathetic towards the opposition's declared position, acknowledging areas of
agreement, pointing out loss of opportunities on all sides, questioning what
would have changed or be dealt with differently if roles were reversed, admitting
the wrongs suffered and then repeating your original offer. Coming together
must offer advantages on each side while building a new entity; benefits are
likely to include increase assets, less liabilities, more income and less
expenditure, resulting over time to more growth opportunities. Moving apart, should
accomplish the same growth divided among the parties.
Finally, with an agreement reached to join or separate; a reasonable
period of adjustment or healing would allow parties to get on with success, without
an agreement; the status quo would continue causing anxiety and uncertainty as
to success, until the legal courts and its appeal systems are able to make a
final determination, forcing the parties' resolution. Hence, each party must be
willing to negotiate from the start towards a settlement agreement in good faith
or be open to a claim for punitive damages.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
