Vocabulary:

Across the board – applies to every part

Unsustainable way of working – can’t maintain that level

About negotiating –

What is your experience of negotiating?

What is the culture in your home country? Does it differ from other countries you’ve worked in?

Sort out(ph v) – to solve a problem – fix (Syn. Figure out)

Compromise (v) – make compromises

Require investment

Want assurances that the investment is worthwhile

Large start-up costs, but the potential rewards are huge.

We require security on our investment.

We need to be on the same page.

To stand out from your competitors.

Sample Negotiation:

Alex: Good morning, Taylor. I appreciate you taking the time to meet today. Before we begin, I want to express our enthusiasm for collaborating on this project. We believe that the combination of our technology and your marketing expertise will create something truly exceptional.

Taylor: Good morning, Alex. Thank you for having me. We share the same excitement about the potential of this partnership. I’ve reviewed the proposed contract, and I believe we can work through the details to ensure a mutually beneficial agreement.

Alex: I’m glad to hear that. Let’s start by discussing the scope of the project. We’ve outlined the key deliverables and milestones in the contract. Do you have any concerns or suggestions regarding the project timeline and goals?

Taylor: Overall, the timeline looks reasonable, but I noticed that the deadline for the first major deliverable is quite tight. Given the creative nature of our work, I propose extending that deadline by a week to ensure we can produce the high-quality content we’re known for.

Alex: I understand the importance of quality, and I appreciate your concern. Extending the deadline by a week seems reasonable. Let’s make that adjustment in the contract. Now, regarding the budget, are there any specific areas where you foresee potential challenges or modifications?

Taylor: Our team has conducted a thorough cost analysis, and we believe the budget is workable. However, I’d like to propose a performance-based bonus structure tied to achieving certain project milestones. This would incentivize both parties to go above and beyond.

Alex: Interesting proposal, Taylor. I agree that incentivizing success is a great idea. Let’s incorporate a performance-based bonus structure into the contract, with clear criteria for each milestone. We can work out the details together to ensure it aligns with both our companies’ objectives.

Taylor: Great, I’m glad you’re open to that. Moving on to the intellectual property section, we want to ensure that both parties have fair access to any innovations or developments that arise during the project. Can we discuss how we can address this in the contract?

Alex: Absolutely, Taylor. I propose a joint ownership agreement for any intellectual property created during the project. This way, both our companies can leverage the outcomes for future endeavours. Does that align with your expectations?

Taylor: That sounds fair, Alex. I appreciate your willingness to collaborate on this. One last point: let’s include a confidentiality clause to protect sensitive information shared between our teams during the project.

Alex: Agreed. Confidentiality is crucial, and we’ll make sure to include a robust clause in the contract to address that concern.

Taylor: Excellent. It seems like we’re making good progress. Once we finalize these adjustments, I believe we’ll have a solid foundation for a successful partnership.

Alex: I couldn’t agree more, Taylor. I’ll have our legal team incorporate these changes, and we can reconvene to review the final draft. Thank you for your collaboration, and I look forward to the positive impact our partnership will have.