What do you do if you need to negotiate innovative partnerships?

One of the main purposes of effective negotiation is to understand what you truly want. This understanding will always strengthen your position. The rest will become easier, especially within a structured framework.

Tener claros mis objetivos, pero también conocer y entender lo objetivos de la otra parte. Adicional a esto, tener una visión clara a lo que se quiere llegar. Cuando esto lo comprendemos bien entonces se van a llegar a acuerdos gana-gana al momento de llevar a cabo una negociación.

1. Identify Common Goals: Clearly define the objectives and benefits that both parties seek from the partnership. 2. Leverage Unique Capabilities: Highlight what each party brings to the table that can enhance the partnership's value and innovation. 3. Explore Creative Solutions: Brainstorm innovative ideas and approaches that can address both parties' needs and create mutual value. 4. Establish Open Communication: Foster a transparent and collaborative environment to discuss ideas, concerns, and potential opportunities. 5. Focus on Long-Term Value: Emphasize the long-term benefits and potential growth opportunities that the innovative partnership can offer.

1. Research and understand both parties' objectives and constraints. 2. Identify areas of mutual benefit and potential collaboration. 3. Communicate openly and transparently throughout the negotiation process. 4. Be flexible and willing to compromise to achieve a mutually satisfactory outcome. 5. Formalize agreements in writing to ensure clarity and accountability.

Many years ago I was responsible for handling 86 legal cases in litigation and mediation. I learned a valuable lesson in the first case, that helped me get unprecedented results in most of the remaining cases. Negotiating as if I was my opponent. Changing sides, and taking the opposition's side when preparing for the negotiation table. This has proved to be very successful, even in the last few weeks, when I sat with high level government officials negotiating for critical things that mattered to their country. This is also true in business and in life. Let's face it! The best negotiators treat the negotiation table as an opportunity to gain a new long term relationship.

1. Understand the other party: Research the other party involved in the negotiation, including their interests, needs, goals, and potential constraints. This will help you tailor your negotiation strategy to better meet their needs and find common ground. 2. Know your own goals and priorities: Before entering into a negotiation, have a clear understanding of your own goals, priorities, and bottom line. 3. Gather relevant information: Collect as much relevant information as possible about the topic of negotiation, market trends, industry standards, and any other factors that may impact the negotiation. This will help you make informed decisions and support your arguments during the negotiation.

It's always about being well-prepared. As Les Brown said, 'It's better to be prepared for an opportunity and not have one, than to have an opportunity and not be prepared.' The best tool to analyze your current status is your SWOT analysis, helping you understand how to prepare for any steps ahead

Prioritize Relationship Building:- 1. Building rapport is crucial for successful negotiations. Even in virtual settings, take the time to establish positive connections with your counterparts. 2. Don’t skip small talk – it’s essential for creating a sense of trust and understanding. Strong relationships are built on good rapport. 3. Remember that rapport helps negotiators develop the trust needed to understand each other’s interests and reach mutually beneficial agreements.

Sometimes, when people make mistakes, it's because they rush into decisions without taking the time to gather all the necessary information or without listening and understanding fully. In our Couchsulting meeting, we refer to this as a 'Big Fail'.

Building rapport is a great in negotiation. Create a connection based on respect and understanding. This sets the stage for open conversation and creative solutions. Listen to their needs, share your thoughts clearly, and trust will grow automatically. It’s especially important when you’re navigating the uncertain waters.

Unconventional ideas + well written contracts make for interesting possibilities. Be open to explore these contractual terms: 1. Contingent contracts 2. Right of first refusal 3. Shared use of resources 4. Separating ownership & usage rights using licensing clauses 5. Restricting licensing rights to create newer possibilities 6. 'Most Favoured Customer' status 7. Exclusivity 8. Exclusive Negotiation Period 9. Competition Matching Rights 10. Automatic Extension of Rights 11. Exit clauses that mitigate risk & so on. Sports contracts can be really unconventional, and a good place to look for inspiration.

Drawing from my extensive experience, I firmly believe that innovation flourishes when fueled by creativity, making it essential to adopt this mindset in negotiations. Embrace unconventional ideas and be open to exploring various partnership models, whether through joint ventures, licensing agreements, or collaborative research and development efforts. Employ creative problem-solving techniques to surmount obstacles and uncover win-win solutions. Your flexibility and readiness to think innovatively can serve as the catalyst for forging agreements that mutually benefit both parties involved.

Bringing creativity into your negotiations can open up new possibilities for innovation. Be open to exploring different partnership models, like joint ventures, licensing agreements, or collaborative R&D. Using creative problem solving can help you navigate through tough challenges and find solutions that work well for everyone involved. Being flexible and willing to think outside the usual confines can often lead to breakthroughs in negotiations.

Clear communication is the most important, especially when discussing innovative ideas that might be new to everyone involved. Make sure to present your proposals clearly and compellingly, avoiding technical jargon unless you're sure everyone understands it. Always check that all parties are on the same page regarding the terms being discussed. This approach prevents misunderstandings and ensures that everyone is aligned.

Contingency clauses may help! In an innovative partnership the parties might have very different expectations and views on what is realistic. It is hard to predict the likely outcome. Allowing for contingency in the contract (‘if outcome xyz, then xyz’) may put both sides at ease. Knowing that future value will be allocated based on real contributions gives the parties not only a chance to move forward but also an incentive to give the partnership their very best.