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See my last point about agency roles.
There is no principal and no agent in a partnership relationship.
Jerome a Paris:
Dispersed "ownership" makes for decisions not to be taken when required.
The ability to share risk and reward within a partnership framework enables the rights and obligations of the property relationship thought of as 'ownership' to be distributed simply and effectively in new ways.
Having been involved among many other interesting projects, in:
(a) drafting and implementing the detailed contract rules of a successful global energy exchange;
(b) clearing house provisions relating to default;
(c) cross border clearing relationships;
(d) the creation of a globally applicable market user agreement in the context of a 'Dot Com'; and
(e) detailed development of new market products and trading mechanisms;
I have some idea about complexity and resilience in contractual relationships.
I also have getting on for ten years' experience of developing simpler consensual ways of contracting which may not yet be familiar to you, but which are entirely familiar (say) to any Japanese businessman.
"The future is already here -- it's just not very evenly distributed"
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