Three strategies for the money dance
Three strategies for the money dance in a negotiation or mediation and many other topics will be revealed in: The “End Game” of Mediation and How to Succeed at It [A Comprehensive Road Map to the Mediation Process] on Tuesday, March 10, 4:30 pm – 8:30 pm @ the Contra Costa Bar Association.
Speakers Ken Strongman, Esq. and Malcolm Sher, Esq. will lead a program for Advocates designed to create a highly positive mediation experience and outcome for themselves and their clients. These two successful mediators will discuss some of the best practices for negotiation and to prepare the client, advocate, mediator and opposition for the mediation journey.
The Contra Costa County Bar Association certifies that this activity has been approved for 3 hours of General MCLE credit by the State Bar of California, Provider #393.
To register for the event: Register Here
NOW FOR THE ANSWER TO:
Three strategies for the money dance in a negotiation or mediation.
Always come to the negotiation or mediation with three reference points:
1. Reservation – bottom line or walk away price is the point at which it is determined that you are better off litigating than settling. It would be better to express the reservation point not only as a monetary amount but as a package that involves quantifiable and other elements.
2. Target Point should represent the optimistic goal for a settlement outcome. It should be a package of monetary and other elements and should be between the reservation point and opening offer.
3. Opening Offer is the number with which your side will begin the bargaining process. It should be more optimistic than your target point because of the give and take of negotiations.
About the Author: Ken Strongman (www.kpstrongman.com) has years of experience and a growing national reputation as a mediator and arbitrator. He has successfully resolved more than a thousand disputes in the fields of construction defects, real estate, intellectual property, and employment. He is also a Mediator and Arbitrator for FINRA.
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