Over the years, I’ve been in many negotiations. I don’t know the maximum number of in a single negotiation, but I’m sure it’s greater than ten active negotiating parties in a transaction. multi-party participants I don’t mean the number of entities participating in the transaction, but the actual number of active negotiating entities. The best way to figure this out is to count the number of different law firms involved in the transaction. We shifted our behavior some years ago. Often, we lead deals. When we lead, we negotiate the terms. We work collaboratively with any other co-investors, but we’ll take the lead. But, if we don’t lead, we follow. This can be tricky, as our instincts (or ego) can often get in the way since we are used to leading deals. Or, the lawyers can get confused about what our real goals and intentions are in the negotiation. We always have a few key things that we need, but these are almost always non-controversial. But they can get mixed up in the fog of a transaction, making the unimportant seem important, and the unemotional seem emotional. I’ve grown to like the phrases “term setters” and “term accepters.” Simply put, if we lead we negotiate the terms. If we follow we accept the terms. The lawyer fees are much lower when you behave this way. Originally published at Feld Thoughts . is how hackers start their afternoons. We’re a part of the family. We are now and happy to opportunities. Hacker Noon @AMI accepting submissions discuss advertising & sponsorship To learn more, , , or simply, read our about page like/message us on Facebook tweet/DM @HackerNoon. If you enjoyed this story, we recommend reading our and . Until next time, don’t take the realities of the world for granted! latest tech stories trending tech stories
