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Unit3 PartOne 1.InterpretingforBusinessNegotiations 1.1Introduction Businessnegotiationsareanimportant partofinternationalbusiness.They involvetwoormorepartieswhoare tryingtoreachanagreementona particulartopic.Thesuccessofa businessnegotiationdependsonthe abilityofthenegotiatorsto communicateeffectively.Thisiswhere theinterpretercomesin.The interpreter’sroleistofacilitate communicationbetweenthepartiesby accuratelytranslatingthewordsspoken byeachparty. 1.2TypesofBusinessNegotiations Businessnegotiationscantakemany forms,dependingonthetypeof businesstransactionbeingdiscussed. Commontypesofbusinessnegotiations include: •MergersandAcquisitions: Negotiationsbetweentwoormore companiestomergeoracquireone another. •JointVentures:Negotiationsbetween twoormorecompaniestoformajoint venture. •StrategicAlliances:Negotiations betweentwoormorecompaniesto formastrategicalliance. •LicensingAgreements:Negotiations betweentwoormorecompaniesto licenseaproductorservice. •SupplyAgreements:Negotiations betweentwoormorecompaniesto supplygoodsorservices. •DistributionAgreements:Negotiations betweentwoormorecompaniesto distributeproductsorservices. 1.3InterpretingforBusiness Negotiations Interpretingforbusinessnegotiations requiresahighlevelofskilland expertise.Theinterpretermustbeable toaccuratelytranslatethewordsspoken byeachpartyandconveythemeaning oftheconversationtotheotherparty.In addition,theinterpretermustbeableto interpretthebodylanguageandnon- verbalcuesofthenegotiatorsinorder toensurethatthenegotiationprocessis conductedinasmoothandefficient manner. 1.4Preparation Inordertoensureasuccessful interpretation,itisimportantforthe interpretertobeproperlyprepared.This includesresearchingthetopicofthe negotiation,familiarizingoneselfwith theterminologyusedinthenegotiation, andunderstandingthecultural differencesbetweenthepartiesinvolved. Itisalsoimportantfortheinterpreterto befamiliarwiththenegotiationprocess, asthiswillhelptoensurethatthe inter