Negotiate Business Contracts:
Tips and Tactics to Follow

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 4,036 reviews

Jump to Section

Need help with a Business Contract?

Post Project Now

Post Your Project (It's Free)

Get Bids to Compare

 Hire Your Lawyer

What is Contract Negotiation?

When a party needs to negotiate business contracts, they are typically involved in routine transactions that have custom terms or one large business transaction with multiple business contracts.

Contract negotiation occurs when two parties come together to decide on the terms of an agreement. This can occur before business contracts are drawn up, but the process can also be triggered by parties to contract agreements wishing to make changes.

Contract parties use many negotiation tactics to get what they want out of a business deal. In this article, you will learn about these tactics and which types of business contract negotiations they can be used on.

Tips to Negotiate Business Contracts

Negotiating business contracts can seem daunting, especially because the terms of the agreement tend to affect your pocketbook. However, with the right know-how, anyone can successfully negotiate one.

Here are ten tips that you can use to get what you want out of a business contract:

Tip #1: Use Your Personality to Your Advantage

Most of what goes on during contract negotiations has to do with how you approach them. Think about who you are when it comes to getting what you want in your daily life. Do you like to find a way to make everyone happy, or do you prefer to demand what you want above all else?

These questions also apply when you need to negotiate business contracts because it defines the two most common approaches: adversarial and collaborative.

If you are an adversarial negotiator, you are ready to get what you want, no matter the cost. Rather than trying to work together to come up with a solution that works for everyone, you would rather make your demands and insist that you will dominate over other parties.

While this approach can be successful in some scenarios, overall, it is not always the best option. When you allow your emotions to get in the way of business dealings, it can lead to clouded judgement. It also tends to create a competitive atmosphere, which can make it even more difficult to get what you want out of a business deal.

On the other hand, if you are a collaborative negotiator, your goal is to come up with a solution that is mutually beneficial. Rather than argue on points that are most important to you, you take time to listen and understand what the other party need. Collaborative negotiators often find better success during contract negotiations.

Tip #2: Don’t Do Too Much at Once

One of the biggest mistakes you can make when it comes to contract negotiation is trying to accomplish too many things at once. Instead, break up negotiations into phases. This makes it easier for everyone to process, which should lead to higher success rates for you.

Tip #3: Choose Your Battles Wisely

No contract is perfect, and you won’t get everything you ask for no matter how hard you try. The best advice you can use in during contract negotiations is to choose your battles wisely. What are the most important things you want to get out of the agreement? Pull those to the forefront of the conversation and don’t hesitate to make concessions on the smaller things.

When all is said and done, focusing your efforts on the big wins instead of wasting energy on the small things is likely to put you in a more favorable place.

Tip #4: Leave Room to Negotiate

When things start to go your way, it can be tempting to button up the deal as quickly as possible. This might lead you to saying “yes” to things too quickly, which is likely to hurt you in the long run. Don’t forget to leave room to negotiate, even if that means saying “no” to things that aren’t that important to you.

Remember : you can always circle back and change your mind later if you say “no”, but if you make concessions too quickly, you could find yourself stuck in a contract you’re not happy with.

Tip #5: Ask Questions

Contract negotiations are all about communication. Don’t be afraid to ask questions to find out where the middle ground is between you and the other parties of the contract. What can you do to make this agreement as mutually beneficial as possible?

Tip #6: Do Your Research

Coming prepared to a negotiation session is vital to the overall success of the meeting. Find out everything you can about the other party and remember: the more you know, the better. It’s also essential that you keep your personal details as private as possible, since the less the other party knows about you is a benefit to you.

Tip #7: Act on Facts

If there’s one thing that should be avoided at all costs during contract negotiations, it’s intense emotions. If you feel yourself starting to feel emotional about the situation, take a moment to calm down and remind yourself that you are working on a business dealing. It’s vital that you act on facts, not emotion, so staying level-headed is essential to your overall success.

Tip #8: Skepticism is Key

Going into each negotiation meeting at least a little skeptical of the other party is never a bad idea. After all, you can never truly know what their intentions are. Hesitate to put your full trust in the other party and tread lightly.

Tip #9: Ask for What’s Fair

If you find yourself stuck and not able to come to an agreement, try communicating to the other party that you are only asking for what’s fair. Make sure that you are familiar with similar business dealings, and don’t be afraid to cite your knowledge during negotiations. Sharing insightful facts could be a great asset.

Check out this article to learn more negotiation tactics that can help you become a better negotiator.

Meet some lawyers on our platform

Wendy C.

2 projects on CC
View Profile

Justin K.

3 projects on CC
View Profile

Jonathan M.

1 project on CC
View Profile

Don G.

27 projects on CC
View Profile

Common Types of Business Contract Negotiations

Understanding the common types of business contact negotiations can help you come more prepared for when you must do the negotiating. If you’ve ever haggled on a price for a car or sent multiple offers in to purchase a new house, you have already started negotiating contracts.

Business contracts aren’t the same as these examples, but they are similar in many ways. For example, while a car sales contract might involve negotiating the price of a vehicle, a business contract might involve coming to an agreement about how much money you will pay a vendor for their supplies.

Negotiating business contracts cover a variety of different types of situations. Here are a few business contracts that commonly require contract negotiations:

Check out this article to learn more about the different types of business contracts that often require contract negotiations.

Who Negotiates Business Contracts?

If you need to negotiate a business contract, it is not usually a good idea to do it alone. Since there are so many moving parts to a business agreement, you should hire business contracts lawyers to assist you. Post a project on ContractsCounsel today to get connected with business lawyers who are well-versed in vendor contracts and contract review and know how to get you what you want out of any contract you sign.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

Sarah K. on ContractsCounsel
View Sarah
5.0 (13)
Member Since:
June 21, 2021

Sarah K.

General Counsel (Commercial, Tech & IP Focus)
Free Consultation
Get Free Proposal
New York, New York
11 Yrs Experience
Licensed in NY
New York University School of Law

Seasoned attorney with over 10 years of experience in legal leadership across business functionalities. Specialization in tech, product, IP, data and commercial but well versed in all transactional and operational advisory matters.

Michael K. on ContractsCounsel
View Michael
5.0 (35)
Member Since:
June 28, 2021

Michael K.

Associate Counsel
Free Consultation
Get Free Proposal
Miami, FL
5 Yrs Experience
Licensed in FL
St. Thomas University School of Law

A business-oriented, proactive, and problem-solving corporate lawyer with in-house counsel experience, ensuring the legality of commercial transactions and contracts. Michael is adept in reviewing, drafting, negotiating, and generally overseeing policies, procedures, handbooks, corporate documents, and more importantly, contracts. He has a proven track record of helping lead domestic and international companies by ensuring they are functioning in complete compliance with local and international rules and regulations.

Roman V. on ContractsCounsel
View Roman
5.0 (1)
Member Since:
July 9, 2021

Roman V.

Trademark Attorney
Free Consultation
Get Free Proposal
Milwaukee, WI
9 Yrs Experience
Licensed in MD
Marquette University Law School

I'm an experienced trademark attorney and enjoy helping clients protect and grow their brand names through trademark registration and enforcement. I've worked with a wide variety of clients in different industries, including e-commerce, software as a service (SaaS), and consumer goods, to register trademarks for product names, logos, and slogans, both in the US and abroad.

Justin A. on ContractsCounsel
View Justin
5.0 (8)
Member Since:
July 7, 2021

Justin A.

Free Consultation
Get Free Proposal
Seattle, WA
6 Yrs Experience
Licensed in NY, WA
The University of Chicago Law School

I am an entrepreneurial lawyer in the Seattle area dedicated to helping clients build and plan for the future. I earned my law degree from the University of Chicago and worked in a top global law firm. But I found advising real people on legal issues far more rewarding. Reach out to discuss how we can work together!

Max M. on ContractsCounsel
View Max
4.9 (17)
Member Since:
July 12, 2021

Max M.

Business Attorney
Free Consultation
Get Free Proposal
Baltimore, Maryland
16 Yrs Experience
Licensed in MD
Georgetown University Law Center

Results oriented business attorney focusing on the health care sector. Formerly worked in Biglaw doing large multi-million dollar mergers and acquisitions, financing, and outside corporate counsel. I brought my skillset to the small firm market, provide the highest level of professionalism and sophistication to smaller and startup companies.

Joshua C. on ContractsCounsel
View Joshua
Member Since:
June 28, 2021

Joshua C.

Free Consultation
Get Free Proposal
Ashland, MA
7 Yrs Experience
Licensed in CA, MA
UCLA School of Law

Attorney Joshua K. S. Cali is a respected business, estate planning, and real estate attorney based in Ashland serving Middlesex County and other nearby areas. Joshua graduated summa cum laude from Bentley University in Waltham, MA, and from UCLA School of Law in Los Angeles. Before starting his own firm, Joshua practiced estate planning for high net worth clients at a boutique law firm in San Diego, CA.

Erin F. on ContractsCounsel
View Erin
Member Since:
June 28, 2021
Drew B. on ContractsCounsel
View Drew
Member Since:
June 30, 2021

Drew B.

Managing Member
Free Consultation
Get Free Proposal
Cleveland, Ohio
25 Yrs Experience
Licensed in MO, OH
Saint Louis University

Drew is an entrepreneurial business attorney with over twenty years of corporate, compliance and litigation experience. Drew currently has his own firm where he focuses on providing outsourced general counsel and compliance services (including mergers & acquisitions, collections, capital raising, real estate, business litigation, commercial contracts and employment matters). Drew has deep experience counseling clients in healthcare, medical device, pharmaceuticals, information technology, manufacturing, and services.

Daniel R. on ContractsCounsel
View Daniel
Member Since:
July 1, 2021

Daniel R.

Managing Attorney
Free Consultation
Get Free Proposal
10 Yrs Experience
Licensed in IL
Gonzaga School of Law

Daniel is an experienced corporate attorney and works closely with corporations, privately held companies, high-net worth individuals, family offices, start-ups and entrepreneurs. Daniel graduated from the Gonzaga University School of Law and is licensed to practice law in Illinois.

Jaroslaw P. on ContractsCounsel
View Jaroslaw
Member Since:
July 20, 2021

Jaroslaw P.

Free Consultation
Get Free Proposal
Warsaw, Poland
16 Yrs Experience
Licensed in AK
Wroclaw University - Law

Attorney - I graduated in Law from the University of Wroclaw and in Economics from the Scottish University of Aberdeen; My legal interests include, in particular: contracts, intellectual property, and corporate law, as well as transactional / regulatory advisory along with related risk management (M&A); The industries with which I have worked most often are: IT, real estate and construction, professional sport, industrial chemistry and medicine, oil & gas, energy, and financial services; I possess many years of experiences working with international entities for which I have prepared and negotiated contracts, as well as (due diligence) reports, analyses, litigation documents, and presentations; Apart from law firms, I have also worked for investment banks and big 4 - thanks to that I also gained financial, technological, and consulting experiences; I shall be described by: accuracy, openness, honesty, concreteness, a broad approach to the problem, and ... a lack of bad manners, along with a good sense of humour :)

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call