article thumbnail

Why Your Partnership Contract Is Too Important to Be Left to the Lawyers

Harvard Business Review

Constraints on due diligence limit the information available to negotiators. Changing technology and markets make it impossible to foresee future contingencies. These fences can reduce the potential for conflicts of interest that make managing incomplete contracts so challenging. Difficulties in Negotiating a Transaction.

article thumbnail

The Best Ways to Discuss Ethics

Harvard Business Review

By contrast, ethics initiatives are often packaged as a set of constraints, compliance schemes, and violations. For instance, the codes of conduct of many companies include statement such as "employees must avoid conflicts of interests" or "employees may not improperly use any company assets.".

Ethics 13