ABSTRACT
This paper explains the important role lawyers play as ‘transaction cost engineers’, in facilitating negotiations and contracting. It highlights to revelation by Ronald H Coase on the importance of paying attention to transaction costs, as well as the lessons from the so-called Coase Theorem. It also looks at the role lawyers, outside of a litigation setting, plays, the nature of legal education on training lawyers as transaction cost engineers, and the opportunities brought about by increased use of information technology in legal practice.
Khong, Dennis Wye Keen, The Future of Lawyers as Transaction Cost Engineers (October 1, 2020) in Myint Zan, ed Legal Education and Legal Traditions: Selected Essays.
First posted 2020-12-03 07:53:57
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