best alternative to a negotiated agreement (BATNA)
Definition
A term used by negotiators to describe the best option available to their side if negotiations fail. The term BATNA was coined by Roger Fisher and William Ury in their book Getting to Yes: Negotiating Without Giving In. Negotiators who have a strong, well-defined BATNA have an advantage because they have a clear benchmark to which they can compare any negotiated settlement.
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