Business Law 6.3

You and Sally agreed to develop a negotiation plan, mapping out a strategy to purchase the Boca Raton property to establish the restaurant. After reviewing the market plan and the terms of the proposed agreement, you suggest to Sally that it would be great if the two of you could map out the areas you believe could be negotiated with the owner. The plan would provide you with a prioritized list of issues to facilitate an agreement with the owner. Sally tells you that she has a perfect tool for plan development. Sally has emailed you a copy of the mapping tools and asks if you would take a shot at filling it out. Compare your term sheet information and the owner’s positions listed in the Marketing Study for the property in Boca Raton (PDF).  In the negotiation matrix, map out the issues that you and the owner expressed in the marketing study.

You told Sally that you were going for a win-win in the negotiations. She recommended that you review the article below to learn the language needed to make winning arguments.

Read the following:

5 Win-Win Negotiation Strategies (Harvard).

https://www.pon.harvard.edu/daily/win-win-daily/5-win-win-negotiation-strategies/

Review the marketing information and the seller’s position concerning the property and priorities.

Complete and upload the Term Sheet (DOCX) answering the issues presented and include your principle objectives in the forms.

Read the Contract Negotiation Process (PDF).

Review this video:

Orange Example/Negotiation by Design (YouTube/7:46)

Upload the following documents:

The Learning Canvas Matrix

The Term Sheet

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