One of my favorite responsibilities at StillSecure is business/corporate development.  The biz dev role is something I have done for a long time for several companies. Having a decent grasp of technology, insight into business and my legal training have helped me to conclude many successful business deals over the many years I have been at it. Over the years I have also had the opportunity to work with many good people on both sides of the table, as well as the chance to help train many good people.  Some of the things I have tried to teach others and that I myself try to remember in negotiating business terms are:

1. Win-win - I know it is such a cliche, but it is also still true.  I have seen so many people from attorneys, to entrepreneurs to other biz dev people try to "beat" the other guy.  You may put one over on the other side and get favorable terms in your agreement, but ultimately if doesn't work for the other side, all of the agreements in the world won't make it work for you.  The most successful deals I have been involved in have been ones where both sides feel that they are getting real value out of the deal.

2. Don't think you are smarter than the other guy - How many times have I seen this vain attitude ruin deals.  Everybody sitting at the table puts their pants on one leg at a time.  Don't think that you are so superior or more intelligent than the other side. They usually are perfectly capable of seeing exactly what you are really driving at and trying to outsmart them again will wind up with a lose-lose.

3. Its not the battle, but the war that counts - One of the things I disliked most about practicing law was dealing with other lawyers.  Every single point of every single agreement could become a knock down, throw down battle to the death, as each side tried to show that they were the better attorney on each point.  Its not about winning any given point, its about getting the deal done.  Unless a particular point is truly a showstopper, you have to remember the big picture of what you are trying to accomplish.  Too many times I have dealt with people who seemed to keep a running tally of how many points they got their way versus how times they gave in.  Is the deal in total a good deal, accomplishing your goals the real scoreboard.

4. Theory is fine, but go for the meat and potatoes -  I have seen so many deals drag out because a particular point is taken to a theoretically possible, but highly unlikely scenario.  Good legal drafting practices says you should try to plan for every eventuality.  But because a corner case of a corner case is remotely possible, don't throw away a great opportunity.  Try to draft around that remote possibility.

5. Put as much effort into the success of the relationship as you do in negotiating the contract.  I have been involved in some deals that by the time the agreement is agreed to, one party or the other is spent and just seems to lose the momentum to carry the relationship beyond the contract.  The contract is the beginning of the business relationship, not the end.

6. Put yourself in the other guys shoes - Empathize with what your colleague is thinking and feeling. Understanding their needs, motivations and state-of-mind can help understand what it will take to reach an agreement.

Of course every deal is different, but remembering these rules will serve you well every time.