What is Negotiation?

Legal Definition
Negotiation is a dialogue between two or more people or parties intended to reach a beneficial outcome over one or more issues where a conflict exists with respect to at least one of these issues. This beneficial outcome can be for all of the parties involved, or just for one or some of them.

It is aimed to resolve points of difference, to gain advantage for an individual or collective, or to craft outcomes to satisfy various interests. It is often conducted by putting forward a position and making small concessions to achieve an agreement. The degree to which the negotiating parties trust each other to implement the negotiated solution is a major factor in determining whether negotiations are successful. In many cases, negotiation is not a zero-sum game, allowing for cooperation to improve the results of the negotiation.

People negotiate daily, often without considering it a negotiation. Negotiation occurs in organizations, including businesses, non-profits, and within and between governments as well as in sales and legal proceedings, and in personal situations such as marriage, divorce, parenting, etc. Professional negotiators are often specialized, such as union negotiators, leverage buyout negotiators, peace negotiator, or hostage negotiators. They may also work under other titles, such as diplomats, legislators, or brokers.
-- Wikipedia
Legal Definition
the term that is applied to discussions that lead to the conclusion of an agreement or a transaction.
Legal Definition
Contracts The deliberation which takes place between the parties touching a proposed agreement.

2. That which transpires in the negotiation makes no part of the agreement, unless introduced into it. It is a general rule that no evidence can be given to add, diminish, contradict or alter a written instrument. 1 Dall. 426; 4 Dall. 340; 3 S. & R. 609; 7 S. & R. 114. See Pourparler
-- Bouviers Law Dictionary
Legal Definition
Merc. law. The act by which a bill of exchange or promissory note is put into circulation by being passed by one of the original parties to another person.

2. Until an accommodation bill or note has been negotiated, there is no contract which can be enforced on the note: the contract, either express or implied, that the party accommodated will indemnify the other, is, till then, conditional. 2 Man. & Gr. 911.
-- Bouviers Law Dictionary
Legal Definition
The deliberation, discussion or conference upon the terms of a proposed agreement; the act of settling or arranging the terms and conditions of a bargain, sale or other business transaction. Also the transfer of or act of putting into circulation, a negotiable instrument.
-- Black's Law Dictionary
Legal Definition
The act of negotiating a bill or note.
-- Ballentine's Law Dictionary