dcsimg

Best Practices for Technology Development and Sourcing Transactions

  • Best Practices for Technology Development and Sourcing Transactions

    Best Practices for Technology Development and Sourcing Transactions-

    Entities collaborating in this manner cannot rely on shared economic interests in the joint venture company to motivate resolutions to difficult issues. As a result, parties to strategic alliance agreements should describe in detail what each party’s rights and responsibilities are in much the same way a customer purchasing outsourcing services would demand detailed services descriptions and service quality protections. Particular emphasis should be given to contract governance and third-party customer management so the collaborators can track brewing issues and modify their enmeshed efforts to meet changing business needs.

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17

Best Practices for Technology Development and Sourcing Transactions

  • 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17
  • Best Practices for Technology Development and Sourcing Transactions-11

    Entities collaborating in this manner cannot rely on shared economic interests in the joint venture company to motivate resolutions to difficult issues. As a result, parties to strategic alliance agreements should describe in detail what each party’s rights and responsibilities are in much the same way a customer purchasing outsourcing services would demand detailed services descriptions and service quality protections. Particular emphasis should be given to contract governance and third-party customer management so the collaborators can track brewing issues and modify their enmeshed efforts to meet changing business needs.

In recent years, the pace of technology and business change has rapidly increased, requiring new commercial models and changes to the existing models. Companies – all companies, not just technology companies – must now regularly update technology across their entire organizations and customer-facing services and products.

Successful technology projects boost revenues, distinguish a company and its offerings from the competition, and transform and improve a company’s relationships with its customers. Failure, on the other hand, can have a profound impact on product development, customer service and market reputation for years to come. Consequently, planning for technology innovation and deployment projects requires careful mapping of strategic objectives, deliverables, and realistic work-around options. 

Laurence Jacobs and Nicholas Smith, partners at Milbank, Tweed, Hadley & McCloy, have identified a variety of transaction structures that companies can use to develop new technologies and to leverage existing infrastructure, technologies, and customer bases. They have also focused on the relative strengths and weaknesses of these models in fostering technology innovation and best practices when designing and managing a project to develop and deploy technology or technology services.