Globalization has caused the integration and interdependence of economies, different markets, nations and cultures. By creating a unique world market, there is a need for mutual partnerships and business expansions to other countries. The outline of the entire business, as well as the relationship between the countries, is negotiation. Some of the most important decisions in the world are based on negotiations such as the world peace and economics. Negotiations present art and skills that need to be mastered in order to achieve the desired success in an international business level. The process of negotiating is a complex social process that involves a tangled structure of attitudes and opinions, social relations - inside and outside the company, and the way that these attitudes, opinions and social relations change. This process contains various elements of individual and organizational behavior, influenced by the past and the perception of the future as well as the present. It consists of a large number of decisions brought by different people at different times and in different circumstances. Understanding the final outcome of this kind of a process depends on understanding of all its phases and parts - which all will be mentioned and thoroughly explained in this work.