Don't forget the minutes of meeting!

Here’s why you want to able to say yes to both those questions.

First of all, since there are a lot of negotiations ending up without one, you want to have a MOM to ensure a paper trail of what you and your counterpart have agreed (and maybe disagreed) and concluded on, something that can prove invaluable further down the line both as a tool for remembering but also proving something in a more legal setting. But it is also an excellent tool to ensure that you and your counterpart have understood things in the same way. By going through the MOM towards the end of the meeting you are both given an extra opportunity to verify that you both are on the same page. The key is to do this verification in the meeting though, that’s when you have everything fresh in mind and you have an opportunity to continue the discussion with your counterpart if something has been misunderstood. Far too often do I hear “I’ll send you the MOM for your review”, but then you open up for several potential pitfalls. Your counterpart may have second thoughts in the mean time and can now conveniently instead revert with a comment saying you have misunderstood. At this point you have lost the momentum and you are no longer in the same room to discuss and clarify it further.

You also want to be the one in control of the MOM as that leaves you in charge of the narrative and while a good MOM should reflect the true situation from both parties perspective it is easier to ensure your interests are being safeguarded if you are the one taking the MOM. People in general are also a bit hesitant to request changes unless there is something that is clearly incorrect.

In short, make sure to have a MOM after a meeting, preferably made by you. Make sure to go through it towards the end and have it signed by both parties.