NEGOTIATION

FG&T tower negotiation process

FG&T tower negotiation process

Introduction

This article involves the case study of the FG&T Tower. The key events that are discussed in the article are related to purchase of new building for FG&T firm. Negotiation is held among the members of the executive committee of FG&T firm. The negotiation includes two parties. One party favors the agenda of purchasing a new building for FG&T firm, whereas other party opposes the agenda as they found it as reduction to partnership income. The negotiation includes key events and some critical factors that have been discussed in the article. The outcomes of negotiation, concepts to apply in daily experiences and effect on our performance in the future has been the theme of the article.

Discussion

Key events

Forrest, Gleason, and Tewksbury (FG&T) is a law firm which was initially placed at metropolitan centre of Clydesdale, and later relocated to Lakefront tower. F.L. Forrest is the manager partner and the permanent member of the FG&T firm which was approached by the developers of office tower in order to tell that they should take their decision of purchasing the building, otherwise it will be sold to other lodgers. Firm can easily obtain a loan for purchasing. Meeting was conducted and a deal made between Forrest and executive committee of the firm concluded with two beneficiary points. The purpose of calling the meeting by the Forrest was to discuss the purchasing of the building. Because without the majority voting over the issue, Forrest could not take the decision of purchasing the building on his own. First point stand with the benefit of high level recognition of the firm, if the building name is FG&T Tower. The other benefit lies in the profit for the firm from the renting space in the building through the firm up of the real estate market. This is noticeable that all the members of the committee could not be replaced until the expiration after three years. Forrest is the chair person of the committee who strongly favors the purchase of building along with Glenn Gleason who was outside the country. However other executive committee members oppose the proposal of purchasing the building. Other partners which include Andy Aldrich who is a young partner and head of litigation depart, Chris Carlisle who is real estate partner, Dana Douglas who is litigation partner along with Erin Edwards, put an objection to deal that the necessary loan payments to purchase building will reduce the income of partnership among the partners. They also proposed that according to law, law firms could not avail office space rather they could only provide with legal services.

The critical factors that effected the negotiation situation and outcomes

Negotiation situation includes the purchase of building.” When the interests of those involved are related to some degree, opportunities for resolution can be more readily identified. However, as negotiation is often perceived as a combative exercise in which individuals attempt to conceal information (Thompson, 1998)”. FG&T which is a law firm need to ...