The best agreement is one that is fair to all parties. All too often parties attempt to negotiate by demanding for more than what is fair to them. Parties are suspicious of each other and the lack of trust ends with parties feeling short changed.
As such, it is crucial for producers to set the stage for an alternative negotiating style that builds on openness and trust. This approach is far more advantageous in the long run as parties build good relationships and the producers are able to work out a financially profitable objective. By setting the stage, producers influence all other parties to the deal to adopt an open and honest negotiating style. Below are 3 important approaches that producers can apply when opting for this strategy.
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