Buy custom Breach of Contract article review
Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
3 / 666 |
Essay's paper body
“Without any such obligation, the justices said, punitive damages cannot be awarded for a breach of contract.†(Egelko, 2008)
LEGAL ISSUE
The legal business issues raised in this article are contract definiteness and breach of contract.
MANAGERIAL PERSPECTIVE
Genentech’s council Sean Johnston stated that the case was merely "an unfortunate dispute over a complex agreement, and I don't think that should reflect poorly on our reputation or our standing in the industry or the community...
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Again, after the ruling on April 25, 2008 the company’s shares lost 1.33 percent.
Since this contract was written 3 decades ago and was among the first written within the biotechnology field, I’m sure there was little that could have been done at the time to avoid this dispute. The contract could have had more specificity or definiteness about being paid for the licensing of products using similar technology...
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