negotiation

noun ne·go·ti·a·tion \ ni-ˌgō-shē-ˈā-shən , nonstandard -sē- \
Updated on: 13 Oct 2017

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.

Examples of negotiation in a Sentence

  1. We need a negotiation between the townspeople and mayor over the site of the new library.

  2. She is skilled at negotiation.

  3. The college president was against any negotiation with the students.

Recent Examples of negotiation from the Web

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.

First Known Use of negotiation

15th century


Financial Definition of NEGOTIATION

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.



NEGOTIATION Defined for English Language Learners

negotiation

noun

Definition of negotiation for English Language Learners

  • : a formal discussion between people who are trying to reach an agreement : an act of negotiating


NEGOTIATION Defined for Kids

negotiation

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

Definition of negotiation for Students

:the act or process of having a discussion in order to reach an agreement


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to suppress quietly or indirectly

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