This post is a break from black letter law. Instead, let’s talk about ethical obligations and how to compose ourselves during negotiations. This post is based on a recent presentation to the Houston Association of Professional Landmen.
- Learning experience
- Fact gathering
- Need for honesty and candor
These are some words that were used to describe a negotiation. (Note that these words were used by professional negotiators.)
Many times during negotiations, parties may engage in puffery or use other words of embellishment. For others, this may seem deliberately misleading – but where does one cross the line?
Negotiations are about compromise and balance. The negotiators are balancing a duty to their clients (or themselves) to get the best deal possible with their duty to be ethical or honest to the other party.
Without an obligation to be honest and represent facts correctly to the other party, there cannot be successful negotiations (this is why so many people fear the negotiating process).
My presentation addresses these issues and discusses the specific professional rules imposed upon attorneys and landmen in the negotiating process. The slides have been edited from their original form to represent some content that was provided verbally during the live presentation.
Check out the slides here.