International Business Negotiations (Finkelstein/Jacobs)
W 4:30PM - 6:30PM
Tanenbaum Hall 112
This course is structured around a simulated negotiation exercise that will cover the entire semester in which the students in this class will represent a US pharmaceutical company (KJH Pharmaceutical Corporation) and the students in a similar class at UVA Law School will represent an African agricultural production company (Malundian Cassava Corporation). The two companies are interested in working together to exploit a new technology developed by KJH Pharmaceutical that uses the cassava produced by Malundian Cassava Corporation. The form of their collaboration could be a joint venture, a licensing agreement or a long term supply contract. The negotiations will take place through written exchanges and via five (5) video-conference sessions. Video negotiations will be held on campus (location to be determined).
The purpose of the course is to provide students with an opportunity (i) to gain an introduction to transactional law and experience the sequential development of a business transaction over an extended negotiation, (ii) to study the business and legal issues and strategies that impact the negotiation, (iii) to gain insight into the dynamics of negotiating and structuring international business transactions, (iv) to learn about the role that lawyers and law play in these negotiations, (v) to give students experience in drafting communications, and (vi) to provide negotiating experience in a context that replicates actual legal practice with an unfamiliar opposing party (here, the students at UVA).
The thrust of this course is class participation and active involvement in the negotiations process. Students are expected to spend time outside of class, working in teams, to prepare for class discussions involving the written exchanges as well as to prepare for the live negotiations. Class discussions will focus on the strategy for, and progress of, the negotiations, as well as the substantive legal, business and policy matters that impact on the negotiations.
NOTE: In addition to the 2-hour Wednesday classes, this class will have five (5) Thursday evening sessions devoted to the live negotiations with UVA: Video conference sessions: February 10, 17, 24, and March 3 and 17.
ATTENDANCE: ATTENDANCE IS MANDATORY. FAILURE TO ATTEND THE FIRST CLASS WITHOUT PRIOR NOTICE AND CONSENT WILL CAUSE STUDENT TO BE DROPPED FROM THE COURSE. ANY SCHEDULE ISSUES REQUIRE BOTH NOTICE/CONSENT OF INSTRUCTORS.
WEATHER ADVISORY: DUE TO THE COORDINATION WITH THE COUNTERPART CLASS, THIS CLASS DOES NOT CANCEL EVEN IF PENN IS CLOSED. IN THE EVENT OF A WEATHER CLOSING, THIS CLASS WILL BE HELD VIA CONFERENCE CALL DIAL-IN OR ZOOM. IF THAT IS NECESSARY, CONFERENCE CALL INFORMATION WILL BE PROVIDED VIA EMAIL.
Assignments for the first class are noted in the syllabus.
In order to successfully complete this class, students must meet the following requirements. See syllabus for more extensive description.
1. Active participation in class discussions, negotiations, and analysis of the negotiations. 40% of grade.
2. Keep a diary of the student's impressions of the process, strategy and progress of the negotiations. Each diary entry will be 1-2 pages, and each student will prepare three diary entries following three assigned negotiations. 30% of grade
3. A final paper (topics to be circulated in class) of approximately 10 pages. 30% of grade
Business and Corporate Law Learning outcomes: Demonstrate a core understanding of business and corporate law; Perform legal analysis in the context of business and corporate law; Communicate effectively on topics related to business and corporate law; Demonstrate an understanding of the interconnection between the world of business and finance and that of business and corporate law, and how they affect other areas of law and society.
Skills Learning outcomes: Demonstrate an understanding of the individual course skill; Demonstrate the ability to receive and implement feedback; Demonstrate an understanding of how and when the individual course skill is employed in practice.
"Negotiating Business Transactions: An Extended Simulation Course" by Daniel D. Bradlow and Jay Gary Finkelstein