HBR On LeadershipHow Better Contracts Can Strengthen Strategic Partnerships
Oct 15, 2025 · 22 min
Even the most carefully worded and meticiously reviewed contracts can fall apart once they hit the reality of modern business dynamics. Oliver Hart, Nobel-winning Harvard economist, and Kate Vitasek, faculty at the University of Tennessee, argue that, when it comes to contracts, one side often ends up feeling like they’re getting a bad deal, and it can spiral into a tit for tat battle. Hart and Vi…