Negotiation Game Plan: Defining Rules of Engagement with Keld Jensen
A practical conversation with Keld Jensen on trust currency and why setting clear rules of engagement shapes alignment, trust, and outcomes in negotiations.
What We Explored in This Episode
In this episode of The Negotiation Club Podcast, Philip Brown (Founder of The Negotiation Club) is joined by Keld Jensen, negotiation expert and pioneer of NegoEconomics, to explore the role of Rules of Engagement in negotiation.
The conversation focuses on what happens at the very start of a negotiation—often before numbers, proposals, or concessions appear—and why this early framing can determine whether discussions become positional, collaborative, or misaligned from the outset.
Trust Currency and the Rules of Engagement
Keld introduces the idea of trust currency: the value created when negotiators are clear, transparent, and aligned on how they will negotiate, not just what they will negotiate.
By explicitly setting rules of engagement—such as whether the negotiation will be positional or collaborative—both parties reduce ambiguity and avoid talking past one another. This clarity helps prevent hidden assumptions and opens the door to value that is often lost in traditional, adversarial approaches.
When Rules Help—and When They Don’t
A critical part of the discussion is recognising that rules of engagement are not universally applicable. Philip and Keld emphasise that context matters.
Some negotiations benefit from clearly stated rules; others require flexibility or a different approach entirely. The skill lies not in knowing the tactic, but in knowing when to use it and when not to.
Keld highlights that certain environments—such as crisis or hostage negotiations—operate under fundamentally different dynamics, reinforcing that rules of engagement must always be matched to the situation.
From Principle to Practice
The episode reinforces that setting rules of engagement is a strategic choice, not a default behaviour. It requires judgement, awareness, and experience to apply effectively.
To practise this skill, reflect on your next negotiation and ask:
- Have we aligned on how we will negotiate?
- Are both sides operating under the same assumptions?
- Would clarity at the outset reduce friction later?
A dedicated Negotiation Card on “Rules of Engagement” has been created to help practitioners practise introducing and testing this concept in a structured way. The card encourages experimentation and reflection, helping negotiators build the experience needed to apply the tactic appropriately.