Clayton Utz Negotiation Competition 2017 Information Session Clayton Utz Negotiation Competition 2017

The Competition 7 rounds (including the grand final) over both semesters (Weeks 4, 6, 8, 10 of Semester 1) No elimination in Round 1 Round 2 is seeded Maximum of 64 teams A variety of different types of problems Business Attire Monday and thursday weeks 1 and 2 Monday and wednesday week 3 (law ball) Back to Monday and thursday One at 630 one at 730 Problems range from divorce settlement (today) to contract negotiations, dispute resolutions and deal making

Rules Teams of 2 (to stay together for the duration of the competition) Teams both receive a set of common facts and each receive a different set of secret facts Teams have 40 minutes to negotiate for their client and come to an agreement (or not) No law Detailed list of rules and tips for competing can be found in the Negotiations Guidebook on the LSS website (<http://mulss.com/competitions/negotiation>) Facts are 1pm the day before Teams will compete in a 40-minute negotiation session the following day. During this time, they will discuss the various issues and attempt to come to an agreement that best meets their client’s instructions and interests outlined in the confidential information. Following the 40 minute negotiation, each team will have an opportunity to reflect upon their performance with the judge/s. This gives competitors an opportunity to explain their tactics as well as gain invaluable feedback. No law - not at a disadvantage Girls competing were first years and made it to final May be better suited because DR is fresher in your mind any and all material facts will be included in the problem - don’t go above and beyond (model bloke) dont make a financial model either

Judging Each match will be presided over by a judge (later rounds will have multiple judges) The winner of the match will be decided on the basis of the judge answering the question: “Which team best served their client?” Teams will also be scored out of 100

Judging Criteria Weighting note how no. 1 and 3 are weighted more than things such as presentation. Reflects how the competition has been changed this year to reward the team that best served their client’s interests. Key to read the problem carefully to ID what your client cares about. Then must implements strategies as a team to pursue those interests. Flexibility is essentially testing how well you and your team mate respond to the new information presented during the negotiation. Favourable outcome is looking toward client’s interests again. Means that you won’t lose the negotiation on a technicality… i.e. your tie was ugly. draw attention to weighting

Time commitment The problem will be released at 1pm the day before your match Preparation is up to you Usually 1-3 hours At a minimum you need to have a grasp of the facts and an understanding of what the client wants and is prepared to compromise on Each match will take about 1 hour to complete 40 minutes negotiating 3-5 minutes reflection 10-15 minutes feedback from judges

Houpis & Sawers v The Apprentices 2016 Grand Final ‘Rematch’ Houpis & Sawers v The Apprentices Remind everyone that both teams have not seen the full problem. We have asked them to try and power through all the issues in 15 mins… so note that they might concede some points easier than they might do in a full length neg.

Tips & Tricks from Jeremy Roe

Tips & Tricks from Jeremy Roe 1. Take preparation seriously Consider all the contingencies 2. Understand the scenario The facts You will need to handle new information quickly Your position Misrepresenting the facts may give you a better position; But it will indicate either a lack of preparation, or raise ethical concerns 3. Time is tight; prioritise your interests

Tips & Tricks from Jeremy Roe 4. Always Be Closing You may need to commit your agreement to writing All interests can be summarised as either: Financial Process or Status You may like to reflect on this when clarifying the interests of your opposing negotiators. 5. Enjoy the contest!

Sign ups Monday 6th March 6:30pm Online link that will be posted via the MULSS site and the LSS Facebook page Find a partner, create a team name, sign up together!

Negotiations Facebook Group! Join fb group facebook.com/groups/2017ClaytonUtzNegotiationComp/ Explain fb group

Questions?