Seven Habits of Highly Ineffective Global Contract Negotiators | Martijn Steger
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The document outlines ineffective practices in global contract negotiation, emphasizing desperation for deals, ambiguity in contract language, and haste in signing without due diligence. It warns against ignoring cultural and legal differences, and stresses a self-centered approach that neglects the partner's needs while prioritizing domestic terms. Ultimately, it serves as a cautionary guide, highlighting the potential pitfalls of careless negotiations in international agreements.
![Thank You S. Martijn Steger Chair, International Law and Business Kegler, Brown, Hill & Ritter Co., L.P.A. 65 E. State Street, Suite 1800 Columbus, Ohio 43215, USA Direct Dial: 1 614 462 5495 Fax: 1 614 464 2634 Email: [email_address] Web Address: www.keglerbrown.com](https://image.slidesharecdn.com/steger-sevenhabits-111222140400-phpapp01/85/Seven-Habits-of-Highly-Ineffective-Global-Contract-Negotiators-Martijn-Steger-9-320.jpg)
Seven Habits of Highly Ineffective Global Contract Negotiators | Martijn Steger
- 1. presented by S. Martijn Steger *WWSCND The Seven Habits of HIGHLY INEFFECTIVE Global Contract Negotiators*
- 2. Be Desperate To Do The Deal Do not negotiate points that are important to you if you think that your partner will not agree to them. Otherwise, the deal might never happen. Most of the time, keep your contract language ambiguous. That way, after the contract is signed, your lawyer can argue that you really meant one thing when your partner thought you meant something else.
- 3. Be In A Hurry To Sign Don ’t bother to learn about the trustworthiness of your potential partner. It will slow you down. Instead, count on your lawyer to protect you with contract language and the threat of lawsuits. Call your lawyer at the last minute and tell her that you need the contract drafted and signed yesterday. That way, she ’ll charge you less because she won’t have time to think about the issues.
- 4. Ignore Cultural Differences Do not consider whether your partner views contracts in the same way that you do. For example, do you agree whether the contract will be enforced, or instead re-negotiated, if circumstances change?
- 5. Obsessively Focus On Only What Is Important To You Do not consider whether your partner also needs to have her objectives achieved via the contract ’s terms. Tell your lawyer to prepare your global contracts so that you reap the vast majority of the financial and other benefits.
- 6. Commit Quickly To The Long Term In One Market Only Decide to enter into a long-term partnership after meeting someone at a trade show. Do not diversify. Only focus on one country or region, so that you minimize your risks and costs.
- 7. Insist that your global contracts contain the same terms as your domestic contracts. Assume that U.S. laws do not apply outside the U.S. What about the Foreign Corrupt Practices Act? Assume You Know What Works Best In Another Legal System
- 8. Do not take the time to consider how or where any dispute will be resolved. Do not consider whether your IP or other valuable assets will be protected in global markets. Do not think about an exit strategy at the start of the relationship. Ignore All Those “Boilerplate” Terms At The End Of The Contract
- 9. Thank You S. Martijn Steger Chair, International Law and Business Kegler, Brown, Hill & Ritter Co., L.P.A. 65 E. State Street, Suite 1800 Columbus, Ohio 43215, USA Direct Dial: 1 614 462 5495 Fax: 1 614 464 2634 Email: [email_address] Web Address: www.keglerbrown.com
- 10. This presentation is designed to provide an overview of a number of legal principles and considerations As each legal issue is fact dependent, this presentation should not be used or viewed as legal advice, and your legal counsel should be consulted on the application of your particular factual situation to the current law Copyright: 2008 Kegler, Brown, Hill & Ritter Legal Advice