Libby Weber – Associate Professor at the University of California, Irvine – promotes a way of thinking about contracts beyond their traditional “preventive” role of avoiding risk, preventing breaches or opportunistic behavior. Her premise? Why not use contracts to promote cooperation, flexibility, and creativity?
Kate Vitasek
Contracts and Baggage
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 […]
Art of Procurement: Unpacking The Standing Neutral W/ Kate Vitasek
Philip Ideson podcast with Kate Vitasek on 17 February 2020 “In these complex deals, change is the norm and it’s very easy to get out of alignment as new players come in town. So we have to keep the relationship and the contract in continual alignment with everyone’s interests.” Here is the link: https://artofprocurement.com/episode302/
Culture of Innovation
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 […]
A Vested View on Risk
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 […]
Secession as a Negotiation Tactic Will Only Go So Far
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 […]
APQC Report: Companies’ Procurement Skills Woefully Lacking
Article by Kate Vitasek published 10 Dec. 2019 in Forbes. Here is the link: https://www.forbes.com/sites/katevitasek/2019/12/10/apqc-report-companies-procurement-skills-woefully-lacking/#6c63883e79ed
Speaker.com: Podcast 51 – Vested Outsourcing Applied to Purchase Services – Interview with Kate Vitasek
Kate Vitasek on the Healthcare Supply Chain Best Practices Podcast Here is the URL: https://www.spreaker.com/user/10962649/podcast-51-vested-outsourcing-applied-to
Challenge the Status Quo
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 […]
Every Vested Contract is Unique
We are often asked, and sometimes even begged, to draft and share a sample contract. People say, “If only I could have an example contract.” Let’s look at why this is a bad idea through the lens of an actual situation. Let’s take an example from ISS, a large facilities management service provider that has […]