November 18, 2004
Using contracts to perform traditional firm functions
It is a commonplace that similar kinds of activities activities can be organized within firms or between firms, and in the latter situation it is contract law that governs the relationship. A significant trend over the past twenty years has been the growth in outsourcing—turning to contractual relations to deal with business functions once done within the firm.
A new article from the Wharton Business School explores the process through an examination of IBM, which is trying to reinvent itself as a supplier of outsourcing services to other businesses.
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