Increase of nominal capital and the amended

memorandum. And you're finished.

Jack: Thanks, Rob. I'll just take a copy of that checklist.

Unit 5

Listening 1

Part I

Good morning. I'm very happy to have been invited here today

To hold this talk on effective contract negotiations. Before we

get started, I'd like to tell you something about the topics I

intend to cover. My talk will be divided into two parts: the first,

More informative part will be held as a kind of lecture, and the

Second, practical part will involve role-plays, to give you a

chance to tryout some of the techniques you'll be hearing

about. In the informative part, I'll cover preparing for a

Negotiation, tips for using agreement templates and term

sheets, as well as some general negotiating techniques. This'll

Be followed by ways to overcome objections from the other

side and how to recognise a good deal. Then we'll break for

Coffee. The second half of our session will then be dedicated

To role-plays.

Part II

... session will then be dedicated to role-plays. Now I'd like to

Move on to the topic of using agreement templates and term

sheets. It's common to start out with an existing contract

Template, which gives you a kind of blueprint of the things that

are usually included in such an agreement. It's important to

Realise that negotiating with a contract template means that

it's necessary to review the terms and conditions it contains

Carefully. Please note that you have to consider what is not in

the agreement but should be, that is, what's missing and

Should be added. This is really just as important as carefully

Reviewing the language in the agreement. Here, I want to stress

that it'd be wise to consult with a senior lawyer, preferably

Someone who has experience negotiating agreements of the

Kind that you are negotiating.

When using a term sheet as the basis of negotiations, it's

Imperative to keep good notes of all discussions or emails

Regarding the items on the sheet. Term sheets are usually

Used by lawyers to transfer the terms that have been agreed

into an official agreement, so it's crucial that the information

on these sheets is precisely what's been agreed on by all

Parties. Sometimes a lawyer will incorporate items from a term

Sheet onto an agreement template. In such a case, he should

Be careful not to include language originally in the template

that isn't appropriate.

OK, now I'd like to turn to some general negotiating

techniques. It's good practice to separate the issues at stake

into different categories in your mind: things you can't possibly

Accept, major points, minor pOints and things you can easily

Live without. Then you can make trades with the other side,

one item for another. This is also known as 'horse-trading'. It

can go like this: 'I'll change this provision to what you want if

you agree to add a provision that I want'. When it comes to

Discussing numbers, if possible let the other side suggest the

First number. In the case of a sales contract, for example, the

Date: 2015-12-11; view: 1023