Strategic Approaches to the Legal Environment of Business
A Game Theory Based Decision Making Guide for Managers
Michael O'Brien, András Margitay-Becht
Current and future managers are regularly confronted with decisions that create risk in the legal environment of business. This book provides a framework for qualifying legal risk and then determining if the legal risk is worth taking. This framework begins by looking at the relationship between the firm, its suppliers, customers, owners, agents, and others in society as a whole to understand specific risks in personal injury, agreements, products, borrowing money, employees, independent contractors, and business entity selection. When the manager is aware of the magnitude of the risk and the likelihood of the risk, the manager is in a strong position to determine if the risk is worth taking. This book uses numerous applications from Game Theory to determine how risks of the firm compare t...