ZOPA!

If you’re thinking ZOPA is something that’s shouted while drinking ouzo and dancing to bouzouki music, you’re missing out on good settlements for your cases.

ZOPA is Zone of Possible Agreement and it represents a target for both sides to get to in negotiations. And if you can figure out the ZOPA for both your client and the opponent, then you’re halfway to getting a settlement.

To get there, you have to make a well-reasoned and significant opening demand/offer. It’s a crucial step because it sets the tone. And it should be made in contemplation of the ZOPA.

As Joan Stearns Johnsen notes, “The best way to identify the ZOPA or range of settlement options is by analyzing all your alternatives, to determine your best alternative (BATNA). Thereafter, compare your own BATNA to your most informed assessment of how the other side views their own BATNA. Although, objectively, you both have the same BATNA, you will probably be viewing it differently. This conflict in perceptions will directly impact the likely settlement range. Identifying the correct place to begin the bargaining requires a fair amount of analysis, and is preparation best done before arriving at a mediation”

Unfortunately, not a lot of attorneys do this … which means if you do, you will have a leg up on your opponent and will be serving your client better!

To read Ms. Johnsen’s article, click here.