J&J, Merck collaborate on Covid-19 vaccine production.
Contracts should embrace a firm grasp of guiding principles as the foundation of business interactions.
The Depression-era economist and political scientist, Joseph Schumpeter (1883-1950), worried about the stagnation of capitalism and globalization long before globalization was a thing (and he wondered whether capitalism would even survive). The term “creative destruction” that Schumpeter championed was a way to describe a process in which the old ways of doing things are destroyed and […]
In one of his recent blogs, Seth Godin wrote about the interesting dynamics of tradeoffs, for instance, making a laptop more powerful will probably affect battery life and its weight. So, trade-offs can be a sort of magic if done right —or a double-edged sword, good for some, not so good for others. I submit that […]
In what seems like a strange message from a different era, a Harvard Business Review article in 2012 by Reed K. Holden, wrote about the games buyers play with vendors, and the fact that the relationship buyer “has been in steady decline.” Holden, the author of Negotiating with Backbone, contended that the relationship buyer was […]
I met University of Vermont Law Professor Oliver Goodenough recently at an IACCM/Stanford Law School event that discussed the future of contracts. He posed this question: “Does the term “contract” come with baggage?” The discussion that followed was lively. The simple fact of the matter is today’s mental model of a contract does come with […]
It seems every company recognizes the importance of innovation. This is especially true for the IT industry, where often today’s latest software innovation is yesterday’s news. This is why it is intriguing to see InformationWeek taking a stab at pushing for a “culture of innovation.” A recent post outlined five techniques “to support and encourage entrepreneurship in your […]
I was at a conference focused on contracting and a law school professor asserted, “You have three ways to deal with risk. Transfer it. Accept it. Or Insure for it.” There is nothing much new with those options, shifting risk is a popular pastime. But I propose there is a fourth way that is even […]
In a recent Seth Godin blog, Secession vs. Commitment, he talks about the negotiation tactic of leaving: it is powerful because “when the customer/partner/citizen could bolt at any moment, we act differently.” It may be powerful, but it is a short-term tactic. A better dynamic is commitment, because it is a “creation tactic.” When parties […]
We should always challenge, or at least question, the status quo. The status quo is great only if you want the same thing you have always had. But today’s business world is dynamic and companies demand innovation and value creation. Lawyers should embrace change and more progressive thinking from academia that is proving to be […]