Negotiators often fall back on positional bargaining, the traditional haggling approach to negotiation. One side makes a strong opening demand, the other side stakes their own claim, and they exchange concessions until they either split the difference or come to an impasse. This type of win-lose approach overlooks opportunities to create value as opposed to just distributing value. You can … [Read more...]
Welcome to the Gregory Negotiation Report
"The purpose of the Gregory Negotiation Report is to help attorneys become better attorneys and more effective negotiators."
Attorney & Mediator
A federal appeals court has upheld a federal judge's decision to deny as "grossly excessive" a request for more than $900,000 in attorney fees based on a $100,000 punitive award. When a request under a fee-shifting statute is "outrageously excessive," a judge may deny the award altogether if the statute gives the judge discretion in awarding fees, the Philadelphia-based 3rd U.S. Circuit Court … [Read more...]
Negotiation Strategy # 1: Prepare, prepare, prepare. Harvard Program on Negotiation professors, Martin Latz (founder of the Latz Negotiation Institute and coaches all emphasize the importance of preparation. John Wooden, the legendary UCLA basketball coach, said, "Failing to prepare is same as preparing to fail." Preparation is the key to successful negotiations. You must know the issues at … [Read more...]
Negotiation Techniques: The First Offer Dilemma in Negotiations The first offer dilemma in negotiations - should you make the first offer? Few questions related to negotiation techniques have yielded more academic attention and debate among practitioners in negotiation research. One of the most common negotiation techniques: Don't make the first offer, or risk "showing your cards" and … [Read more...]
Most of us know by now that there is normally an anchoring bias associated with the first offer in negotiations. If the first offer for a house or to settle a dispute is $300,000, the first offer of $300,000 becomes an anchor with counter offers being above the offer if you are a seller and below the offer, if you are a buyer. Let us say that you are the seller and after consulting a real estate … [Read more...]