Traditional, static negotiation theories focus on descriptions of various external factors that influence the outcome of negotiations. They are useful in predicting the negotiation outcome in a limited way, because the result of the negotiation is ultimately determined not only by objective facts, but is worked out during the negotiation itself. We propose a Dynamical Negotiation Network (DNN) model that links the negotiation outcome with the process of attaining that outcome. This model represents the negotiation process in terms of a dynamically constructed network of interconnected nodes of meaning. The structure of the network and dynamics of its creation determine the outcome of a negotiation. In the presented study, we examined 58 participants who negotiated in dyads. There were many objective facts; those that were taken into consideration, the order they appeared in the negotiation, what structure of relationships they formed, helped determine a 'shared reality' that drove negotiation outcomes. We show that the DNN model explains the outcomes of their negotiations more precisely than do the static elements of the situation.