Step 1: Lay the Foundation for a Partnership

David Frydlinger (), Kate Vitasek (), Jim Bergman () and Tim Cummins ()
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David Frydlinger: Cirio Law Firm
Kate Vitasek: University of Tennessee at Knoxville
Jim Bergman: Commercial Officers Group, Inc
Tim Cummins: World Commerce & Contracting

Chapter Chapter 12 in Contracting in the New Economy, 2021, pp 155-174 from Springer

Abstract: Abstract In this chapter, the focus is on Step 1: Laying the Foundation for a Partnership. The parties need to focus on the commercial relationship instead of the commercial transaction. This requires alignment on key components like building trust, embracing transparency, and seeking compatibility. Sometimes the parties are better served by starting a new foundation rather than building upon a flawed one. Once the parties believe that the partnership has the requisite level of trust, transparency, and compatibility—or if they are willing to work on a new or existing relationship to develop the necessary trust, transparency, and compatibility—they can feel confident in moving forward in the process. This chapter provides proven tips and tools for moving through this step of the process.

Date: 2021
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DOI: 10.1007/978-3-030-65099-5_12

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