Successful negotiation strategies are made up of various elements, which can change from lawyer to lawyer, Kiri Tahana says. The key is that they work to get the desired outcome for clients.
“Successful negotiation strategies include understanding the client’s objectives, bottom lines and commercial approach so that the negotiation outcomes meet these objectives. It is also very important to seek to understand the concerns and drivers of the other party to help determine whether those objectives can be met while also meeting your client’s objectives – i.e., obtaining a win-win outcome,” she says. “Mastering negotiation strategies is important as it enables us to meet our client’s objectives in a way that provides value to the client. “
The Kahui Legal partner, who will be teaching successful contract negotiation strategies at this year’s Contract Law Masterclass in Auckland, says that the biggest challenge is ensuring that the negotiations are only focussed on the issues that matter to the client. She says that time and expense should not be wasted on issues that are not important.
“Understand the objectives and desired outcome for your client and seek to achieve this in a way that provides value to your client,” she advises fellow lawyers.
Tahana says that events such as the masterclass, which has a packed agenda, enable people to step back from the day-to-day work and seek to understand and adopt new strategies that will ultimately provide better outcomes for your clients.
The Contract Law Masterclass, which will be held on 7 March at the Hilton Auckland, enables legal practitioners to claim up to 6 CPD points. Reserve a seat today or save even more with a Team Pass to get four seats for the price of three.