Often! negotiators fail to recognize when it is time to leave a conflict. This trap can lead to loss of time! money! and reputation. A textbook example of this is the story of twins Tyler and Cameron Winklevoss.
In 2003! Harvard University students the Winklevosses and Divya Narendra recruit their classmate Mark Zuckerberg to write code for the university’s social networking site! Harvard Connection (later known as ConnectU).
Soon Zuckerberg stopp contacting them! busy creating his own social network (Face Social Network).
After the Winklevoss team
The Face Network—and the Face Network countersu—the two sides reach a settlement in February 2008.
The twins were paid $20!000!000 in cash and $45!000!000 in Facebook shares at $35.90 per share.
However! shortly thereafter! the Winklevoss team demand a renegotiation of the agreement! arguing that the Face Network had hidden the true price of the shares from them! inflating the overall value of the company. This prevent them from acquiring more shares. As a result! the Face Network had cheat them out of hundrs of millions of dollars.
The ConnectU team! arguing that they were motivat not by money but by phone number library a desire for justice! ask a feral appeals court in San Francisco to overturn the deal. (The twins also su their lawyers; however! a judge rul in their favor.)
In his analysis of the case
Stephen M. Davidoff of The New York Times found the Winklevosses’ arguments weak! given that the terms of the agreement were binding and that feral securities law does not require sellers to disclose all information.
Ultimately! the San Francisco Court of Appeals what is database management systems and how does it work? rul that the verdict should stand! calling it “entirely favorable.” The twins then began Dealing with Difficult People preparing to appeal to the U.S. Supreme Court. However! they belgium business directory soon abandon the idea and withdrew their appeal.