I started by offering my partner to exchange information about our priorities. My partner agreed and we shared information with each other regarding the items that matter for each of us. This enabled us to save time and focus on the issues that we could create some value for both of us.
I told my partner that the number of runs was very important for me and I made it clear that the more runs I got, the more I can pay her for the show. After understanding that number of runs was not important for my partner to the extent that it was for me, we agreed that the number of runs should be 8 (maximum) to create the maximum value for the deal.
Then we realized that issues on the table were not equally important for us. Number of runs was the most important issue for me and it was affecting the number that I could pay my partner. Similarly, time of payment was the most significant item for my partner and it was clear that the sooner she got the payment, the more she could make money.
After realizing the most important areas for each of us, we basically traded these items by giving out the maximum we could on them. So, I gave her the earliest payment option and she gave me the maximum run numbers. This helped us expand the pie.
Then we added other items into the negotiation. The main item was licensing fee and it was tough to reach a consensus. As the maximum amount that I would pay was $60,000, I started offering well below this number and offered $25,000. Her counter offer was $70,000. Following numerous counter offers and going back and forth, we saw that it was not likely that we would have a deal.
At this point, we decided to include JUNIORS to the negotiation and wanted to see if we could make some progress using this new show. Here we saw that JUNIORS presented us the opportunity to expand the pie since we were both willing to cut a deal on JUNIORS. After a quick negotiation session, we met in the...