Unasked questions

The result of these pressures on both sides can be that nobody actually addresses these issues. Deals do get done where the most important questions are never even raised, let alone answered. It is akin to a dance where neither partner has a clue why they came to the ball in the first place.

Even more worrying, this lack of clear objectives against which to establish a governance structure does not necessarily prevent the partners at the dance from getting engaged to be married. Instead, its usual effect is to postpone these critical decisions to the stage either where the expensive legal drafting of the agreement is under way, or where the transaction has been done and is actually being implemented. The result – again as with ...

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