While it may seem like second nature to in-house counsel, successfully negotiating the closure of a business transaction is an art form. It requires transparency, organization, and market awareness to understand how to approach negotiation in a way that effectively ensures a positive outcome for all parties involved. By understanding these factors, and how to navigate the risks associated with them, in-house counsel can efficiently close multiple transactions simultaneously to favorable returns.
Research shows that leaders who demonstrate positive recognition toward those they work with have a much higher rate of engagement and success. By defining “positive recognition” and learning how it affects others, in-house counsel can better master how to utilize this kind of acknowledgement and ultimately increase efficiency and communication.