negotiation

noun

ne·go·ti·a·tion | \ ni-ˌgō-shē-ˈā-shən,

nonstandard -sē-

Definition of negotiation

: the action or process of negotiating or being negotiated —often used in plural Negotiations between the two governments have failed to produce an agreement.

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Examples of negotiation in a Sentence

We need a negotiation between the townspeople and mayor over the site of the new library. She is skilled at negotiation. The college president was against any negotiation with the students.

Recent Examples on the Web

Top congressional leaders met with Mr. Trump on Wednesday at the White House but made little progress in the negotiations, according to lawmakers. — Kristina Peterson, WSJ, "House Passes Spending Package in Bid to End Shutdown," 4 Jan. 2019 Duluth is in negotiations with a hotel developer to construct a two-story parking facility with a limited service hotel above the parking. — Karen Huppertz, ajc, "Duluth approves additional funds for downtown parking facility," 13 July 2018 But such secrecy, said Dan Cryan, executive director of research at IHS Markit, a media analysis firm, is the company’s prerogative — perhaps even a canny way to keep the upper hand in negotiations with partners. — Daniel Arkin /, NBC News, "Apple's script for conquering Hollywood is a mystery so far," 13 July 2018 On the flip side, Diana Abasta, president of the Burbank Teachers Assn., and her members are in negotiations with Burbank Unified officials. — Andrew J. Campa, latimes.com, "Local unions react to Janus ruling with uncertainty, hope," 11 July 2018 According to TuttoMercatoWeb, United have raced ahead of the competition in negotiations for the 22-year-old and are already preparing a £35m bid, having been impressed by his performances for Mexico in this summer's World Cup. — SI.com, "Manchester United Prepare £35m Bid for PSV Star Following Impressive World Cup Displays," 8 July 2018 Pregame: Arizona Republic Barring a last-minute snag in negotiations the Suns will soon sign guard Devin Booker to a five-year, $158 million contract. — azcentral, "Phoenix Suns NBA Summer League updates: Deandre Ayton, Josh Jackson headline roster," 6 July 2018 Those moves will cut deeply into the salary cap space for all three teams and, in turn, seemed likely to hurt Gordon’s leverage in negotiations with the Magic. — Josh Robbins, OrlandoSentinel.com, "Aaron Gordon, Orlando Magic agree to 4-year, $84 million deal," 2 July 2018 Lawmakers within May’s Conservative Party have expressed frustrations over her negotiations of Britain’s departure from the European Union, and many of them want a cleaner break from the trading bloc. — Marley Jay, The Seattle Times, "Wall Street ends higher with help from tech and health care," 12 Dec. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'negotiation.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Last Updated

14 Jan 2019

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The first known use of negotiation was in the 15th century

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More Definitions for negotiation

negotiation

noun

Financial Definition of negotiation

What It Is

Negotiation is a process in which two or more parties resolve a dispute or come to a mutual agreement.

How It Works

Negotiations occur all the time in the business world, and they are often strategic in nature. In many cases, they require a good legal education and a good financial education so that the parties can understand each other, make sound decisions, and understand the potential consequences of those decisions.

Negotiation often takes place in these business situations:

1. Company A and Company B want to merge but must agree on price, financing, and management changes.
2. John Doe wants a job with Company XYZ but must negotiate his salary and benefits.
3. Company A wants to purchase supplies from Company B on certain payment terms.
4. Company A wants Company B to become a customer.
5. John Doe is suing Jane Smith, and Jane Smith offers to settle out of court for a certain amount of money.
6. Union ABC wants higher wages and pension contributions from Company XYZ.
7. Jane Smith wants to buy a house from John Doe.

Why It Matters

The list is endless. The important thing to remember is that negotiation is not necessarily adversarial; it often is a strategic process. The objective is to come up with an agreement that benefits all parties. Sometimes parties must give up some things, but this is indeed part of the negotiation, and giving something up frequently allows for gains in other areas of the negotiation.

The best negotiators prepare themselves by studying the situation extensively before entering the negotiating room. They also consider deadlines, timing, cultural expectations, personalities, and the distribution of information in their negotiating strategies.

Source: Investing Answers

negotiation

noun