I couldn’t ever imagine how does it work. Do they just call each other on the phone and arrange a meeting? Do they leave each other an email? A letter? Do they send a person into each others HQ? Also, when they eventually negotiate, is it just two ‘teams’ of people arguing over the conditions?
In: Economics
They have entire teams that do this work. It will be (several) sections of their company, depending on the specific contract they are negotiating. ‘
>do they just call each other on the phone and arrange a meeting?
Yes, and email of course.
>Do they send a person into each others HQ
At some point the teams will meet, but most of it will be done by email and phone, its too much work and coordination to get everyone on board to meet. Meetings generally take place at the beginning, and near the end to hammer out the final points. These ending meetings can be fierce as usually whats left is all the stuff they couldn’t agree on before. For really big stuff, its common for C-level executives to discuss some of the hangups as well.
> Also, when they eventually negotiate, is it just two ‘teams’ of people arguing over the conditions?
Haha, yeah basically. Along with the lawyers. For the most part though stuff is done by talking on the phone and sending versions of the contract back and forth with changes. And this can take a really, really, really long time, even for fairly simple deals. The people who do this are professionals, its not their first rodeo, they all know the game and process.
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