Time is money in corporate transactions; therefore legal counsels experience enormous pressures and fatigue to comply with their clients' needs and expectations. Clients anticipate quick response times from lawyers and to comply with such strict deadlines, lawyers may be exposed to levels of stress in business transactions that may become difficult to manage.
The purpose of this article drafted by ONTIER Mexico Lawyer Héctor G. González is to set forth certain strategies that may help lawyers when negotiating business transactions under stress and financial distress. His conclusion is that in order to reduce the probability of settling on a premature deal when negotiating under stress and financial distress, the negotiator needs to: (i) understand the specific problems of the company; (ii) communicate and cooperate to handle the situation; (iii) propose a mutual gain plan for both parties, and (iv) understand the adversity of litigation.
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