Assessment 1: What Will You Do If an Agreement Is Not Reached? The answer to such a question provides an important basis for any negotiation strategy. The answer represents the entrepreneur’s “best alternative to a negotiated agreement.” This best alternative helps to determine a reservation price the negotiation. The reservation price is the price (the bundle of resourced from the agreement at which the entrepreneur is indifferent about whether to accept the agreement or choose the alternative. For example, the best alternative to a negotiated agreement with a joint venture partner would be the benefits from pursuing growth at a slower rate existing resources (knowledge money, network, etc.). Recognizing that there is an alternative to this joint venture relationship, albeit a slower route, provides a minimum acceptable level of benefits that the negotiated outcome must reach.