The following is not meant to be legal advice.
One of the buzz topics for November 2007 is Goldman Sachs bringing about numerous corporate deals. What role did it play in the contract negotiations involving the New York Yankees and the team's star third baseman Alex Rodriguez.
Did Goldman Sachs assist in making the parties communicate effectively? It seems that in any contract negotiation, it is not always about the substance or subject of the agreement, but about the personalities and ability of the parties to get along. For instance, in a sales deal, the vendor should have someone who keeps the talks moving along since the buyer may not always think of the buy as the top priority. The vendor who has fewer people interfacing with the buyer may be better off in preventing confusion because the buyer would know the point person to speak with.
To make the negotiation process is efficient, the vendor might also consider having a simple contract that the buyer business person can easily read and perhaps sign off without legal review. A simple contract may be to have an order form that references terms and conditions that are displayed on a web site. This offers flexibility in being able to change the terms without having to amend the contract, and it takes words off the paper making the buyer think that the terms are not really that negotiable, resulting in a quicker signing of the deal.
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