Most of us lack negotiating skills so we are reluctant to get into negotiations. However, for rep companies it’s essential to be able to negotiate a fair and balanced deal, otherwise the relationship will ultimately fail. The objective of the negotiating webinar is to help reps understand the need for negotiating, the current supply-demand state of the rep/principal relationship and the major issues that need to be negotiated.
Why negotiate?
- If you don’t, it can cost you a bundle later on
- You will gain respect in the eyes of the principal
- The negotiating process can flush out an undesirable business partner
The current supply-demand state of the rep/principal relationship:
- Is it a buyer’s or seller’s market for reps today?
- Why is this important?
The major issues to be negotiated:
- The termination clause
- Rights upon termination
- Shared territory development fees
- Product liability indemnification
Resources for negotiating