The Importance of Trust and Information Sharing for Integrative Negotiations

In the increasingly global and interconnected economy, negotiation processes became a vital part in the political, social, economic, and particularly business spheres, and have evolved over time. Building integrative negotiations relies on trust among the parties, affecting the process of information and knowledge sharing during the negotiation meetings. Trust has emerged as an increasingly important intangible asset in and between organizations, as an intellectual relational asset developed and sustained in interaction between people, forming a foundation for collaboration and co-operation in and between organizations. Through building and sustaining trust (avoiding distrust), organizational intellectual capital and overall business competitiveness can be enhanced. This paper discusses trust as a foundation for integrative negotiations, where strategy and information sharing play a critical role. The research questions are: what role does trust/distrust play in integrative negotiations, and how trust/distrust manifest during the negotiation meetings. Moreover, how trust and strategy affect information sharing in integrative negotiations to reach a mutually beneficial agreement. Empirical findings are presented based on qualitative data from two case studies, covering different contexts- international trade, and contract negotiation within an organisation - and four countries in Latin America, Asia and Europe. The purpose of the paper is to provide insights for further research by empirical findings and practical implications for negotiators and professionals in general.