Contract negotiation is the process by which parties discuss and agree on the terms of a contract before it is finalized. This involves various elements such as compensation, rights, obligations, and expectations that ensure both parties have a clear understanding of their commitments. Effective negotiation can lead to favorable agreements that align with the goals and interests of the involved parties, particularly in the entertainment industry where contracts are essential for securing deals.
congrats on reading the definition of contract negotiation. now let's actually learn it.