In negotiations leverage is everything. This applies in law, business and your personal life. Some people think it mainly has to do with money, but it doesn’t. But the side with the most leverage still controls the negotiation.
In my world my client may have the strongest legal and factual position, which, of course, is great leverage. But the fact that the other party has no money and probably will file bankruptcy if my client is successful in court is strong leverage too.
And knowing the leverage each party has is important in negotiations or a mediation setting. Otherwise, how can you strategize and plan for your negotiation or mediation.
That’s right, plan for your negotiation or mediation. In a lawsuit it’s the most important day other than trial, and you control the outcome, not a judge or jury. The same is true in other negotiations, such as buying a used car. Don’t plan your strategy on offers and there is a good chance you will pay more than what earlier was your highest number.
If you want to discuss leverage and mediation, or an important upcoming negotiation, let me know.