While much recent work has attempted to code negotiation interaction to identify how individuals use communication tactics in negotiation settings, many coding schemes have been developed to analyze simulated activities and may not be appropriate for the analysis of formal, professional negotiation events. Moreover, most coding research has failed to focus on the relationships between individual tactics and larger communication strategies. This article proposes a coding mechanism sensitive to formal, naturally occurring communication in negotiation settings and capable of identifying strategic use of individual tactics. The coding scheme is then applied to simulated and naturalistic negotiation interaction and the resulting data are assessed, using lag sequential analysis. Significant differences are reflected between the naturalistic and simulated interactions and strong patterns of communication strategy are identified.