Lawyers are deal-savers, not deal-killers

The Lawyer's toolbox: More than just fancy words

Ever wondered what goes on behind closed doors when contract negotiations go sideways? I assure you, it's not just a lot of legal jargon, hoping something sticks.

Legal expertise is the foundation

Lawyers bring a lot of knowledge to the table. Think they're just reading the fine print?

No- They're decoding, analysing, and using it to build a fortress around your interests.

I remember one of my first-ever M&A deals. The lawyer was the hero. Their review of the warranties clause saved the acquirer from millions in hidden liabilities.

Risk management is the name of the game

Another earlier career memory was with a client about to sign a deal, but I something felt off. I pinged my lawyer, who stepped in like a detective. She found risks that we never even knew existed.

She insisted on including a Material Adverse Change (MAC) clause. To protect from any unforeseen events that could hurt the deal's value.

The art of the deal: Negotiation strategies that work

Now, here's where it gets interesting. Negotiation isn't just about winning. It's about finding a solution that works for all. Negotiation is a complex process. It requires skill, strategy, and emotional intelligence.

With the greatest of respect; many people think they understand and/or are good at negotiations, but most often they're not.

Because they're not professionally trained, in regular practice scenarios and then executing real- life negotiations.

Proactive is the way to go

• Include dispute resolution clauses - think of them as your contract's emergency exit
• Negotiate liquidated damages. It's agreeing on the rules of the game before you play.
• Implement dispute prevention clauses. The best fight is the one you never have.

In 2024, working with my legal counsel, we included a tiered dispute resolution clause in a software license. It mandated:

→ Negotiation

→ then Mediation

→ before allowing Arbitration.

A method that saved both sides substantial time and resources when a dispute arose.

Evidence is your best friend

Don't even think about entering a negotiation before you get your ducks in a row.

Review the contract terms. Gather your evidence. And common sense here- know what you're fighting for.

I mediated a contract dispute recently. My client was too blase, I insisted that they prepare a detailed decision tree of potential outcomes. Luckily I did, because then we had a clear advantage in the negotiation.

The human touch: It's not all about the law

Here's a secret from my 25 years of experience: the best dispute negotiations aren't won in the courtroom. They're won in the hearts and minds of the people involved.

→ Emotional intelligence is your superpower

It's not just nice to understand the motivations of all parties, it's essential/

Build bridges, don't burn them.

In my consulting practice, I've seen countless negotiations turn around. This happened when parties took the time to understand each other's interests and emotions.

Storytelling can be your secret weapon

Scottish people culturally value a good tale, I can tell you that using stories to make your points more compelling works wonders in negotiations.

One time during a labor dispute, my sharing anecdotes about successful collaborations between management and workers helped break down barriers and led to a mutually beneficial agreement.

The takeaway: Your contract negotiation cheat sheet

1. Embrace continuous learning - the law doesn't stand still, and neither should you
2. Invest in professional development - sharpen your negotiation skills
3. Build a support network - know your lawyers before you need them
4. Implement proactive strategies - prevention is better than cure
5. Nurture your emotional intelligence - feel the room, people

Remember, negotiation is an art form. It's finding the sweet spot. Everyone should feel like a winner.

With the right legal guidance, you protect your interests. It will help your future business run more smoothly.

So, what's your contract negotiation story?

I'd love to hear about your most challenging (or successful) experience. Drop a comment below and share:

• A tricky situation you've navigated
• A lesson you learned the hard way
• A negotiation strategy that worked brilliantly for you

Your real-world insights could help someone else avoid pitfalls or find a breakthrough in their next negotiation!

Let's learn from each other!

Until next time, keep negotiating with heart and smarts!

Your apex negotiator

Scott