In dealmaking, information is power. Knowing how to control it can change everything in your deal or negotiation. Sometimes, leverage is what you hold back. Sometimes, leverage is what you reveal at just the right moment. This command and control of information allows you to tilt the balance in your favor. As a talent agent, mediator, media attorney, and professor at the USC Gould School of Law, I teach people how to command and control information when negotiating. I also teach an &Then master class on dealmaking in collaboration with Madecraft Studios and Cornerstone OnDemand.. 

Here are three tips for using leverage in a deal.

1. Know the details.

There’s a reason why you read the fine print. That’s where the leverage comes from in deals.

One time, I was looking for a space to put my business in a mall location. The problem was that the malls were charging exorbitant prices for leases.

However, I had an ace up my sleeve. I understood loan covenants. Essentially, malls need to be over 85 percent occupied, or they’re in default on their loan, and the loan can get called.

So, I started researching malls in the areas where we wanted to move. I would walk up and down the mall, counting the doors of spaces that were unoccupied. When I would hit a magic number that meant more than 15 percent vacancy, I would go talk to the leasing office.

2. Reveal information as needed.

Having information is also about when you use it. I would tell the people running the mall that my company was a newer company, a family business with some funding, and we would like to lease a space. You have to understand that at the time, places like Pottery Barn and Williams Sonoma were paying $40,000 a month to lease the kind of space I needed. I would ask for the same square footage, which of course they quoted me the same price for.

However, I knew about loan covenants. So I would say, “I’m sorry if I’m overstepping here. My understanding is that your vacancy factor might have you out of compliance with your bank.” After I released that bit of information about knowing they needed occupants to stay in compliance, I would get a lease for $4,000 a month.

3. Stay calm and cool.

Another way to use leverage is to stay calm and cool. I always advise my clients and friends, “Don’t be thirsty.” Recently, I was working with a client, and we sent a demand letter to the other lawyer about the deal. My client was anxious and wanted to reach out the next day to see if the other lawyer had received the demand letter.

When you appear thirsty (anxious, nervous, etc.) to the other party, you lose your leverage.

That’s why I counsel clients to wait. You have to remember the other side is also waiting. And it becomes a little game of chicken, or seeing who is the most thirsty.

If you stay calm and cool, the other side might get anxious, and you’ll gain an edge. Practice those three methods—knowing the details, releasing them when needed, and staying calm—and you can tilt deals in your favor. So, how do you gain leverage in your deals? 

This article was originally published by Inc. May 18, 2025.