Small and Medium Enterprises, Law and Business (eBook, PDF)

Uncertainty and Justice

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The law plays an ambiguous role in running business. While legal tools can be used to tame uncertainties, for example, by concluding contracts to safeguard enforcement of future claims, they can also generate uncertainty. These secondary uncertainties like ones stemming from vague rights and obligations may be counterbalanced by using different resources and strategies, including acting informally, modifying business plans or accepting the losses from unpaid dues. This book discusses how small and medium enterprises use the law, abstain from using the law, and use alternative pathways to manag...

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