Renegotiation of existing agreements is constant in all areas of life. In this article, the author examines the nature and causes of renegotiation and offers guidance to persons involved in the renegotiation process. He identifies three distinct types of renegotiations – post‐deal, intra‐deal, and extra‐deal renegotiation. Each of the three types poses particular problems and opportunities and each requires different techniques to deal with those problems and opportunities.

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