A Short Guide to Contract Risk

Contracts serve two primary functions - risk allocation and planning. Unfortunately, contracts as written in practice fail to perform either function very well. A Short Guide to Contract Risk does a wonderful job of showing these shortcomings and providing a user-friendly blueprint to shift the focus of contracts from risk allocation to risk prevention; from law-centered to performance-centered; and from breach-centered to dispute avoidance. This little book possesses a great deal of practical wisdom for the contracts scholar, legal practitioner, and business manager. Professor Larry A. DiMatteo, Warrington College of Business Administration, University of Florida, USA If you are looking for a concise, foundational primer on contract risk, you should read this book! I highly recommend it to anyone who has customer or vendor facing responsibility, or could in any way influence the negotiation or contract formation process. Although it does a nice job of addressing the core concept of risk inherent in business deals, it touches on far much more. Timothy S. McCarthy, Director, Contracting and Negotiations, Rockwell Automation I have welcomed their previous title Proactive Law for Managers and now I am professionally very happy with the new book this successful duo has been able to compose. What I like most is the instrumental, proactive approach to business legal matters; in their own words: Contracts are not made for the legal department or future litigation; they are made for business, in order to reach business objectives (introductory chapter). It is this managerial way of handling the law that is so needed in practice and yet so seldom seen in literature. Professor Antoni Brack, Twente University, The Netherlands Helena Haapio and George Siedels book takes a fresh view on contracts. It is not just another book on contract law, but an easy to read, practically oriented guide on how to use contracts as a management rather than a leg

Helena Haapio works as International Contract Counsel for Lexpert Ltd. Completing legal studies in Finland, and at Cambridge University, Haapio served for several years as in-house Counsel in Europe and the USA. She has designed and conducted training workshops around the world, acts as arbitrator in cross-border contract disputes and undertakes multi-disciplinary research on ways to enhance contract usability and communication. George J. Siedel is Williamson Family Professor of Business Administration and Thurnau Professor of Business Law at the University of Michigan. He has served as a Visiting Professor at Stanford, Harvard and the University of Sydney. After legal studies at the University of Michigan and Cambridge University, Siedel worked in a professional corporation as a corporate attorney. Haapio and Siedel are the award-winning authors of Proactive Law for Managers. They are active members of professional bodies including the International Association for Contract & Commercial Management.

Contents: Foreword; Introduction; Contracts and risks - the big picture; Sources of contract risk; Risks in negotiating a business contract; Risky terms and issues in contracts; Contract risk recognition and response: processes and tools; Conclusion; Index.