The traditionally close relationship between corporate legal departments and big law firms is being disrupted--in part because the former are concerned about costs and lack of accountability. But executives now have many more choices about how to get their legal work done: They can use technology to do document search, bring in high-end temporary lawyers to manage major projects, or send routine processing work overseas. It's tempting for legal departments to react to these new options by asking, "How can we acquire the same services at a lower cost?" But aiming for relatively small, short-term savings could critically damage important relationships, the authors write. Instead, corporations should seize this chance to do four important things: assign legal work to the providers best suited to a particular task; lower legal costs without sacrificing quality; achieve greater transparency and accountability; and derive greater value from in-house counsel. The recent downturn has resulted in excess capacity at many law firms and heightened scrutiny of the billable-hours model. Technology has both created a problem--by generating oceans of data that must be collected, preserved, and reviewed in litigation--and offered solutions, in the form of "smart searching." And over the past few years, new types of legal-services providers have emerged. These three factors have led many companies to renegotiate terms with their law firms. They should beware, say the authors, of focusing on discounted rates rather than aligning incentives between client and counsel. And if legal services are unbundled, firms should be alert to the opportunity to reintegrate them for valued clients.

It may not be negotiator’s remorse but at certain times you may feel sorry that – or at least wonder why – you ever closed a deal. In such a case, you’ll probably discover that you did the deal for the sake of doing a deal – not to build a sustainable, positive and productive relationship. These authors describe how to make sure that every deal delivers value.

Two-party negotiation between agents for an opera singer and an opera house regarding a possible contract for an upcoming production, under conditions of full disclosure. The basic facts are the same as in Sally Soprano I, except that as a result of a discussion between Sally and the Lyric Opera's Artistic Director, all available information is known by both sides. The principals have left their agents to work out the details of a deal, knowing that something mutually advantageous is possible.

Two-party negotiation between the lawyers for business partners concerning the ownership of a new computer program one of them has developed. HackerStar, Inc. is a small closely-held corporation that develops and markets software for microcomputers. The six-year-old company was founded by Hacker, a brilliant programmer who is responsible for the company's products and became its manager, and Star, a dentist and computer hobbyist who provided the capital. Hacker and Star are each 50% owners. The company has done moderately well, but now faces a crisis resulting from a dispute between the partners over the ownership and disposition of PowerScreen, a new product developed by Hacker, at least partly on his own time and definitely against Star's wishes. The company lawyer has referred Hacker and Star to separate counsel in order to avoid a conflict of interest. The exercise revolves around the meeting of these lawyers. At issue is the ownership of PowerScreen and the future of HackerStar, Inc.

Two-party negotiation between the lawyers for business partners concerning the ownership of a new computer program one of them has developed. HackerStar, Inc. is a small closely-held corporation that develops and markets software for microcomputers. The six-year-old company was founded by Hacker, a brilliant programmer who is responsible for the company's products and became its manager, and Star, a dentist and computer hobbyist who provided the capital. Hacker and Star are each 50% owners. The company has done moderately well, but now faces a crisis resulting from a dispute between the partners over the ownership and disposition of PowerScreen, a new product developed by Hacker, at least partly on his own time and definitely against Star's wishes. The company lawyer has referred Hacker and Star to separate counsel in order to avoid a conflict of interest. The exercise revolves around the meeting of these lawyers. At issue is the ownership of PowerScreen and the future of HackerStar, Inc.

Two-party negotiation between the lawyers for business partners concerning the ownership of a new computer program one of them has developed. HackerStar, Inc. is a small closely-held corporation that develops and markets software for microcomputers. The six-year-old company was founded by Hacker, a brilliant programmer who is responsible for the company's products and became its manager, and Star, a dentist and computer hobbyist who provided the capital. Hacker and Star are each 50% owners. The company has done moderately well, but now faces a crisis resulting from a dispute between the partners over the ownership and disposition of PowerScreen, a new product developed by Hacker, at least partly on his own time and definitely against Star's wishes. The company lawyer has referred Hacker and Star to separate counsel in order to avoid a conflict of interest. The exercise revolves around the meeting of these lawyers. At issue is the ownership of PowerScreen and the future of HackerStar, Inc.

Two-party negotiation between the lawyers for business partners concerning the ownership of a new computer program one of them has developed. HackerStar, Inc. is a small closely-held corporation that develops and markets software for microcomputers. The six-year-old company was founded by Hacker, a brilliant programmer who is responsible for the company's products and became its manager, and Star, a dentist and computer hobbyist who provided the capital. Hacker and Star are each 50% owners. The company has done moderately well, but now faces a crisis resulting from a dispute between the partners over the ownership and disposition of PowerScreen, a new product developed by Hacker, at least partly on his own time and definitely against Star's wishes. The company lawyer has referred Hacker and Star to separate counsel in order to avoid a conflict of interest. The exercise revolves around the meeting of these lawyers. At issue is the ownership of PowerScreen and the future of HackerStar, Inc.

Two-party negotiation between principals over the sale of a house. 67 Fish Pond Lane, a house in Cambridge, Massachusetts, is for sale. The buyers are two MBA candidates who will both graduate this month. The sellers, two lawyers, have recently moved to Silicon Valley, California, but are in town for a few days.

Two-party negotiation between principals over the sale of a house. 67 Fish Pond Lane, a house in Cambridge, Massachusetts, is for sale. The buyers are two MBA candidates who will both graduate this month. The sellers, two lawyers, have recently moved to Silicon Valley, California, but are in town for a few days.

Two-party negotiation between principals over the sale of a house. 67 Fish Pond Lane, a house in Cambridge, Massachusetts, is for sale. The buyers are two MBA candidates who will both graduate this month. The sellers, two lawyers, have recently moved to Silicon Valley, California, but are in town for a few days.

Two-party negotiation between agents for an opera singer and an opera house regarding a possible contract for an upcoming production. Sally Soprano is a distinguished soprano who is now somewhat past her prime. She has not had a lead role in two years, but would like to revive her career. The Lyric Opera has a production scheduled to open in three weeks, but its lead soprano has become unavailable. Lyric's representative has requested a meeting with Sally's agent to discuss the possibility of hiring Sally for the production. Neither knows much about the other's interests or alternatives. There is a wide range of possible outcomes.

Two-party negotiation between agents for an opera singer and an opera house regarding a possible contract for an upcoming production. Sally Soprano is a distinguished soprano who is now somewhat past her prime. She has not had a lead role in two years, but would like to revive her career. The Lyric Opera has a production scheduled to open in three weeks, but its lead soprano has become unavailable. Lyric's representative has requested a meeting with Sally's agent to discuss the possibility of hiring Sally for the production. Neither knows much about the other's interests or alternatives. There is a wide range of possible outcomes.