Outsourcing

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Oct25

Linda Chan

October 25, 2006

Know More: Contracts 2.0, Contracts

Recently Dave Gardner facilitated an event on Outsourcing Challenges and Solutions. Gardner, Founder and Principal of Gardner & Associates Consulting, stated that outsourcing relates to the present dilemma of “make or buy”. Should a company do something itself? Companies have outsourced tangible goods and intangible information technology management, software development, product development.

Companies no longer have to hire a staff of engineers to commercialize innovations, companies that design products do not have to manufacture them.

Outsourcing improves ROI, makes a company agile, allows focus. The company doesn’t expend capital on plant, equipment, inventory, people, employee benefits.

At the event, Stephen Gillespie, Partner, Intellectual Property Group at Fenwick & West provided thoughts on decreasing risks in outsourcing relationships. A company engaged in outsourcing should consider: providing detailed and specific descriptions, deliverables, milestones and consequences prior to an engagement; managing the relationship based on agreements; considering consequences for cost overruns; being specific about budgets; clarifying intellectual property ownership agreements prior to project engagement; clarifying access to data.

related entries

Acknowledgment Form Dec 12, 2007
Goldman Sachs Nov 23, 2007
Contract Terms Oct 27, 2007
Commitment Letters Oct 20, 2007
Commercial Transactions Oct 19, 2007

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