The Guide to Entrepreneurship

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Chapter 8

Power Negotiations

“He who pays the piper calls the tunes.”

The word negotiation is derived from the Latin “negotiatus,” which is past

participle of “negotiare,” meaning “to carry on business.” It is also related to

“negotium” or “necotium” literally meaning “without leisure.” A negotiation is a

dialogue between parties, intended to reach an understanding, resolve a point

of difference, or gain an advantage, to produce an agreement upon courses

of action, or to satisfy various interests of parties involved in the process.

Negotiation is a process where each party involved in negotiating tries to gain

an advantage for themselves by ...