general

Negotiation

The process of discussion and bargaining between parties to reach a mutually acceptable agreement or settlement.

Encyclopedia entry: Negotiation

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Negotiation is the process by which parties bargain in an effort to reach an agreement . Parties often negotiate the terms of a contract before entering into it. For example, in a corporate merger , parties may negotiate terms such as price, covenants , assumed liabilities , conditions to closing, and indemnification . Parties may also negotiate to resolve disputes or reach an out-of-court settlement .

[Last reviewed in April of 2026 by the Wex Definitions Team
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Encyclopedia content from Cornell LII Wex (CC-BY-NC-SA 2.5).