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Knowing the Counterparty in Contract Negotiations

Negotiators have much to consider when preparing for contract negotiations. The two main questions negotiators consider are what do they want from the agreement and what is their best alternative to a negotiated agreement. Since there are at least two sides to every agreement, successful negotiators also consider these questions as they relate to the counterparty.  Understanding the interests and objectives of the counterparty is an essential part of negotiation strategy. When negotiators understand the