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# Overview

This article will give you an overview of the deal negotiation process, explaining the key stages and actions involved.

## What is Deal Negotiation?

Deal negotiation is the process of discussing and agreeing on the terms of a contract with external parties. Using our software, you can create, review, edit and share documents until both parties are satisfied and the contract is ready for signing.

## Stages of Deal Negotiation

1. **Initiate the Deal:** The negotiation process begins when a deal is initiated in the Leegality Deal Collaboration.
2. **Internal Review:** The contract is reviewed internally to ensure all terms are correct before sharing with the external party.
3. **Ready for External Review:** Once the internal review is complete, the contract is prepared to be sent to the counterparty.
4. **External Review:** The counterparty reviews the contract and may suggest changes.
5. **Negotiation Internal:** Your team reviews the counterparty’s changes and decides whether to accept them, propose further changes, or finalize the contract.
5. **Ready to Sign:** When both parties agree on the terms, the contract is ready for signing.

## Key Collaborators and Their Roles

This part of the article explains the roles of key collaborators in the deal negotiation process. Being familiar with the roles and responsibilities of the collaborators can help you navigate through a negotiation more effectively.

### 1. Initiators

- **Role:** Initiators start the deal negotiation process by creating the contract.
- **Responsibilities:**
    - Create the initial draft of the contract using templates and workflows.
    - Ensure all necessary information is included.
    - Assign tasks to the appropriate team members for review.

### 2. Pre-sharing Reviewer

- **Role:** Review the assigned fields and sections in the contract before sending it to the External Review.
- **Responsibilities:**
    - Review document before sending it to counterparty.
    - Approve, Edit, or Discard the variable fields and sections assigned to them.

### 3. Business Negotiators

- **Role:** Business negotiators focus on the business terms of the contract.
- **Responsibilities:**
    - Review the contract for business-related terms and conditions.
    - Suggest changes or improvements to the terms of the contract if required.
    - Communicate with the counterparty to negotiate business terms.

### 4. Legal Negotiators

- **Role:** Legal negotiators ensure the contract is compliant with the law and is free from legal risks.
- **Responsibilities:**
    - Review the contract for legal accuracy and compliance.
    - Suggest changes to ensure legal protection and compliance as and when required.
    - Collaborate with business negotiators to align business and legal terms.
    - Approve the contract before it goes for execution.

### 5. Counterparty POC

- **Role** The counterparty POC (Point of Contact) is the representative from the external party involved in the negotiation.
- **Responsibilities:**
    - Review the contract sent by the initiator or the negotiator.
    - Suggest changes or provide feedback on the contract terms.
    - Communicate any concerns to your team.