Contracts are an essential component of any business, from initial startup to everyday operations to continued development. As such, it is vital to possess skills and knowledge of the contract negotiation process.
When negotiating contract terms, it is important to reach an agreement that is in the best interests of your business. At the same time, you want to foster positive relationships with business partners through fair compromise. Knowing what to do or not do during negotiations can help to achieve the above objectives, as well as avoid potential contract disputes.