negotiation

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

Updated on: 20 May 2018

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.

See negotiation defined for English-language learners

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 of negotiation from the Web

The negotiations have dragged on, in part, because the President's struggled to keep lawyers and hire new ones, giving way to a new legal team that is still getting up to speed.

— evan perez, CNN, "Hot Pockets, mismatched chairs and a critical mission: Inside year one of the Mueller investigation," 17 May 2018
Critics are worried that Trump is more focused on image than substance in the North Korea negotiations, writes the Washington Post.

— NBC News, "First Read's Morning Clips: Indiana air war," 17 May 2018
China, in turn, may use the upcoming negotiations to gain an edge on Mr. Trump on trade.

— mark landler, New York Times, "North Korean Threats Are ‘Splash of Cold Water’ on Expectations for Talks," 16 May 2018
While the press release from the organization did not include financial details, a source close to the negotiations told the Observer that Tepper has agreed to pay $2.2 billion in cash for the team.

— jourdan rodrigue, charlotteobserver, "It's official: Carolina Panthers OK team sale to billionaire David Tepper | Charlotte Observer," 16 May 2018
President Teddy Roosevelt was instrumental in the negotiations that led to the 1905 Treaty of Portsmouth, which ended the Russo-Japanese War.

— brian bennett, Time, "President Trump 'Doesn't Think He Needs' to Prepare Much for His Meeting With North Korea's Kim Jong Un," 16 May 2018
One of the more contentious issues in the negotiations involves a U.S. push to require a certain amount of vehicle content be made by higher-wage workers, which effectively excludes Mexico.

— eric d. lawrence, Detroit Free Press, "With stakes high for auto industry, experts doubt NAFTA deal this week," 16 May 2018
The exact reason for Trump’s abrupt turn around remains a mystery; there are reports suggesting it’s about the midterms, the upcoming negotiations with North Korea, Trump Organization business, or maybe all of the above.

— margaret hartmann, Daily Intelligencer, "Why Trump Is Suddenly Worried About Saving Jobs in China: 6 Theories," 15 May 2018
Still, many of the factors that complicated the budget negotiations of the past remain at play.

— kim geiger, chicagotribune.com, "Rauner’s top priorities sidelined in final budget talks of his first term," 13 May 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.

Origin and Etymology of negotiation

Middle English negociacion "dealing with people," borrowed from Latin negōtiātiōn-, negōtiātiō "business, trade," from negōtiārī "to do business, trade, deal" + -tiōn-, -tiō, suffix of action nouns — more at negotiate

NEW! Time Traveler

First Known Use: 15th century

in the meaning defined above

See Words from the same year

negotiation Synonyms

Synonyms

accommodation, compromise, concession, give-and-take;

Related Words

haggle, horse trade;

accord, arrangement, bargain, concurrence, consensus, deal, understanding;

agreement, settlement;

mediation, treaty;

Financial Definition of NEGOTIATION

negotiation

noun

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