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Academics Network

The purpose of this Network is to provide its members with a forum to share insights to new trends and emerging practices in the fields of contract, commercial and relationship management. We encourage the sharing of research and knowledge across the academic sector, and hope that collaborations amongst the members will lead to new insights and practices, as well as encourage the field of study to grow. A key goal is to grow the visibility of the study of contracts and commercial management along with roads to increased performance and professionalism.

 
 
Network Updates

Academic Symposium on Contract and Commercial Management - Palo Alto, CA

Stanford - IACCM Academic Symposium on Contract and Commercial Management, a collaboration of IACCM and the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University.  Date: Friday, November 8, 2019Time: 8:30 am - 5:00 pm, followed by a receptionVenue: Stanford University in Palo Alto, CaliforniaThis invitation-only event is for senior industry and legal executives and leading academics in the field of contract and commercial management, and the focus is on sharing new research and ways of thinking in this area.  The day is organized to encourage robust discussion between presenters and attendees on the following topics:   The Interplay of Relationships, Trust and Legal Contracts The Role of Lawyers in Contract Risk Management Using Digital Technologies – Such as Machine Learning and Natural Language Processing – in Commercial Contracting Computable and Smart Contracts Academic Research in Commercial ContractingThis is an exciting event for leaders like you who truly understand the value of driving excellence in contracting and commercial management, and desire to become efficiently informed of latest developments in commercial contracting to be able to share within your organization.  Participation at the event is complimentary, and you will also have the opportunity to network with your peers in the post-event reception.  A detailed description of the program agenda and registration  are below. Academic Symposium Agenda: 8:30 am – Registration and morning coffee 9:15 am – Opening Remarks – George Triantis, Stanford Law School and Sally Guyer, CEO, IACCM 9:30 am – The role of lawyers in contract risk management.Contracts are risky instruments: they reduce, create and/or transfer a variety of ambient and legal risks and uncertainty.  How should a company measure or value the risks of one contract or a portfolio of contracts?  What are the state-of-the-art strategies that companies use to manage contract risks?  What role do lawyers, contract managers and other professionals play in the assessment and management of contract risks? How do they balance they roles as enablers of opportunities and guardians against risk?  Are they excessively risk averse at times so as to hinder value creation? 10:45 am – Break 11:00 am – The interplay of relationships, trust and legal contracts.The interaction (as substitutes or complements) of legal and non-legal (whether relational or reputational) enforcement is of interest to both academics and practitioners.  Do contracts vary in practice depending on whether there are relational or reputational consequences to performance (or failure to perform), and how so? To what degree – and how - do parties in different contexts anticipate consensual renegotiation or adjustment (such as modifications or waivers) in their initial agreements? 12:30 pm – Lunch 2:00 pm – Using digital technologies – such as machine learning and natural language processing – in commercial contracting. What is the state of the art and how do these techniques enhance contract analytics, negotiation, design and drafting? 3:15 pm – Break 3:30 pm – Computable and smart contracts.What is the current state and future potential of automated execution through computable contracts or smart contracts on blockchains? 4:30 pm – Academic Research in Commercial Contracting Tim Cummins, President, IACCM and Qi Zhou (George), Associate Professor of Law, University of Leeds School of Law 5:00 – 6:30 pm – Reception

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Webinar - Building the Foundation for Professional and Organizational Success

I like the idea of asking new employees what their learning style is during the onboarding training period. I too am a visual learner, so by seeing and doing the work first-hand during training helps me to learn better and faster. Good idea as it helps promote inclusion and diversity and increase employee morale as not everyone's learning style is the same and should make the employee comfortable in a new environment.

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10 Pitfalls to Avoid in Contracting

I note that the post is from November 2015. Would you say that the statistics for these 10 have remained the same in 2019? Is it possible to get more information about the survey that was conducted, where did the input come from? For example, what is the 9.2% financial benefit / Erosion based on?

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Obligation of Supplier to Prioritize Resources

I am looking for some guidance regarding a clause which is obligating the supplier to prioritize resources for the Purchaser. From the supplier side this could potentially be a commitment difficult to fulfill. Perhaps you have seen some drafting on this subject which softens such a commitment? I am thinking along the lines of "supplier to make best efforts...". Looking forward to your comments

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Research invitation: Contracting Strategies for Megaprojects - a Global benchmarking Study

As a pioneer in contract management effectiveness, IACCM is leading a global study to identify the successful contract strategies for megaprojects. If you are a legal, contracts, project management or procurement professional, would you be willing to share some insights into the strategies that worked on a recent successful project (one that came in ahead of schedule and under the FID budget)? In return you will receive a copy of the research findings that includes insights other Global2000 companies. This will not be shared publicly and will give you a unique opportunity to benchmark your performance against your peers and with other industries - Oil - Gas and construction firms. Your company data and insights will remain strictly confidential and will not be published. Scores will be reported in aggregate and companies will remain anonymous. If you are willing to participate, please follow the link to the survey: https://www.research.net/r/Contrusctioncommunitysurvey Looking forward to hearing from you.

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