final Flashcards
Alternative Dispute Resolution
Arbitration, Mediation, Negotiation
Arbitration
A form of ADR where a neutral third party (arbitrator) makes a binding decision to resolve a dispute.
Mediation
A form of ADR where a neutral third party (mediator) helps the disputing parties reach a mutually acceptable agreement.
Litigation
The process of resolving disputes by filing or answering a complaint through the public court system.
Prep & Planning
The initial stage in negotiation where the negotiator prepares and plans the strategy and approach.
Determine Proper Valuation of Case
Conducting factual and legal research about the damage amount, probability of success, and cost to prosecute.
Determine Clients Needs, Wants & Objectives
The process where the client lists and ranks each objective to clarify their goals.
Determine Appropriate Strategy & Style
Choosing the suitable strategy and style for negotiation based on the case specifics and client preferences.
Adversarial Strategy
A zero-sum game approach where one party’s gain is another’s loss, focusing on economics of dispute.
Problem Solving Strategy
A negotiation approach where both parties aim to satisfy their needs, focusing on underlying interests rather than just economics.
Cooperative Style
A negotiator who aims to resolve the problem amicably, used when bargaining power is low or maintaining relationships is important.
Competitive Style
A negotiator who is aggressive and assertive, used when strong bargaining power exists and offending the other party is not a concern.
Devise Opening Offer
Creating a high or low but credible offer, justified with reasons and objective criteria.
Information Gathering
Collecting pertinent information during negotiation about the opposing counsel, their constraints, authority, workload, and motivation.
Types of Questions
Open-ended, narrow, yes/no, leading, and funnel approach questions used to gather information.