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

The deficit at UConn Health was $7.1 million but would have been far greater if state legislators had not agreed to an additional $33.2 million to cover pension costs at the health center in the final days of budget negotiations. — Russell Blair, courant.com, "Capitol Week in Review: Republicans and Democrats fight over UTC headquarters departure," 14 June 2019 The transportation group is in the middle of contract negotiations now, a spokesperson said, while the second cohort is still in the testing phase. — San Diego Union-Tribune, "Sleeping pods and robots in San Diego airport? Leaders ask startups for more out-of-the-box ideas," 14 June 2019 The final order was amended Thursday after several hours of negotiations to require the hotel owners to conduct a public information and outreach program and come up with a plan to reduce their use of plastic. — Peter Fimrite, SFChronicle.com, "Half Moon Bay Ritz-Carlton ordered to quit impeding beach access," 13 June 2019 But a tumultuous few months of negotiations with creditors led to limits on the amount Greeks could withdraw from banks and near-bankruptcy for the country. — Washington Post, "Greek president OKs request for early election on July 7," 10 June 2019 The deal came after three days of negotiations to stop the flow of mostly Central American migrants traveling to the U.S. through Mexico. — CBS News, "Trump says U.S. and Mexico reach last-minute deal to avoid tariffs," 8 June 2019 Staffers and management had failed to come to an agreement for a union contract after more than a year of negotiations. — Oliver Darcy, CNN, "Vox Media and employees come to deal on union contract," 8 June 2019 According to Deadline, which first reported the news, Williams’ inked return comes after negotiations with ABC Studios that involved salary and his availability. — Christina Dugan, PEOPLE.com, "Grey's Anatomy's Jesse Williams Signs New Two-Season Contract After Season 15 Cliffhanger," 7 June 2019 The company called the lockout after more than two months of negotiations and after union members twice rejected company contract offers. — Marissa Luck, Houston Chronicle, "Harris County commissioners back locked out Dow workers amid safety concerns," 5 June 2019

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

17 Jun 2019

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Time Traveler for negotiation

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