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Article
Publication date: 1 October 2003

Grant Puleo

No matter the size or scope of a biotech laboratory project, neither landlords nor tenants should rely on traditional ‘form’ documents to address the many complex leasing issues…

Abstract

No matter the size or scope of a biotech laboratory project, neither landlords nor tenants should rely on traditional ‘form’ documents to address the many complex leasing issues unique to this industry. When negotiating and documenting a biotech lab lease, five clauses warrant particular attention. ‐ Construction of tenant improvements: Build‐outs of lab space can be highly specialised and elaborate. Tenants will require detailed involvement in design and construction of improvements while landlords may limit, to the extent possible, tenant improvements to those that are financeable, resuable and ‘generic’. ‐ Security deposits: Greater security in the form of a deposit and letter of credit may be required to balance the potentially higher risks and longer terms of many biotech laboratory leases. ‐ Hazardous materials: Most biotech laboratories will work with hazardous materials. Specially tailored lease provisions can help limit liability and mitigate the potential costs of removal, remediation and litigation. ‐ Building services and utilities: Biotech users may require high levels of heating, ventilation and air conditioning (HVAC), plumbing, electrical and janitorial services. Lease provisions for services and utilities should be tailored to the unique intended use of biotech premises. ‐ Assignment of sublease: Given the rapidly changing nature of the science, tenants may require added flexibility to sublease space or to assign the entire interest in the lease. Although these five clauses address only some of the many issues that landlords and tenants should consider in biotech lab leases, they have implications that echo throughout the lease.

Case study
Publication date: 13 December 2017

Craig Furfine

Markus Steuer, director of real estate at Drechtal Pharmaceuticals, must decide where his firm should locate in the immediate future. Drechtal was currently leasing space in seven…

Abstract

Markus Steuer, director of real estate at Drechtal Pharmaceuticals, must decide where his firm should locate in the immediate future. Drechtal was currently leasing space in seven different buildings, yet the company anticipated a dramatic increase in headcount should its first oncology drug, Trianoline, be approved by Swissmedic. The potential increased demand for space initiated Steuer's investigation of whether it was optimal to continue to lease space or whether or not it should invest in its own corporate headquarters. With its current leases set to expire over the coming 24 months, it was an opportune time to consider Drechtal's options.

Details

Kellogg School of Management Cases, vol. no.
Type: Case Study
ISSN: 2474-6568
Published by: Kellogg School of Management

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Article
Publication date: 1 March 1990

Virginia Butterworth

This spring (May, 1989) I was alarmed to read, in a trade publication for stock brokers, an article recommending real estate limited partnerships to brokers and their clients. The…

Abstract

This spring (May, 1989) I was alarmed to read, in a trade publication for stock brokers, an article recommending real estate limited partnerships to brokers and their clients. The same week I had received a report on my own real estate partnership which contained the following statement, “Due to the operating deficits of… and the imminent foreclosure of the…, it is questionable as to whether the partnership will be able to fully realize all its invested capital.” Which means (translated into direct and grammatical English) you probably won't get back all of your money, much less the seven percent annualized tax‐sheltered return which had disappeared two years ago. Shortly thereafter the Wall Street Journal ran a story on the same topic under the headline, “Shearson seeks to Control Damage From Troubled Partnerships.” If it's not too late, I would like to educate you, faithful readers, and hopefully spare you one of my own follies.

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The Bottom Line, vol. 3 no. 3
Type: Research Article
ISSN: 0888-045X

Article
Publication date: 1 October 2004

Jack G. Kaikati

Synthetic leases, used by some retailers to finance rapid expansion, could be ticking time bombs that might blow up anytime in the USA. This paper has three objectives. First, it…

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Abstract

Synthetic leases, used by some retailers to finance rapid expansion, could be ticking time bombs that might blow up anytime in the USA. This paper has three objectives. First, it provides an overview of the financing technique in the USA by tracing its origin and pin‐pointing its advantages and drawbacks. It shows that the drawbacks tend to outweigh the benefits. Second, it discusses how some retailers were red‐flagged for using it and how they responded to such undesirable exposure. The third objective is to highlight the more stringent accounting regulations recently imposed by the Financial Accounting Standards Board (FASB) on synthetic leases in the USA.

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International Journal of Retail & Distribution Management, vol. 32 no. 10
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 1 February 2001

Galina Gaivoronskaia and Knut Erik Solem

The potential of biotechnology to cure disease and feed the Third World has not eased public disquiet about its safety. In the rush to commercialization, can lessons be learnt…

Abstract

The potential of biotechnology to cure disease and feed the Third World has not eased public disquiet about its safety. In the rush to commercialization, can lessons be learnt from the introduction of nuclear power a generation ago? While France’s nuclear programme stayed on track, America’s was derailed by accidents and corporate secrecy. So is an industry under state control safer than one in private hands? And in the absence of clear evidence about the long‐term effects of genetic manipulation, how can we design a consultation process that addresses public concerns?

Details

Foresight, vol. 3 no. 1
Type: Research Article
ISSN: 1463-6689

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Article
Publication date: 1 June 2001

Siriginidi Subba Rao

This article identifies the changes that libraries and information centres (LICs) need to undergo for networking, and lists the existing communication networks (INDONET, ERNET…

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Abstract

This article identifies the changes that libraries and information centres (LICs) need to undergo for networking, and lists the existing communication networks (INDONET, ERNET, NICNET, GPSS, RABMN, INET) and libraries and information networks (INFLIBNET, DELNET, BTIS, SIRNET, TIFACLINE, CALIBNET, MALIBNET, BONET, MYLIBNET, PUNENET, etc.) in India. It mentions the paradigm changes that LICs undergo, challenges to their networking, and also highlights the role of IT in transforming traditional LICs into a digital mode. It discusses the various Governmental policies that led to the development of national information infrastructure, the inadequacies of the infrastructure, the status of IT application in Government, and the challenges in converting library contents into computer readable form. It concludes that, although India has drawn up ambitious plans, it has not seen the benefits that could come from employing these facilities to improve the socio‐economic conditions of its citizens or help it emerge as an economic superpower.

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Library Hi Tech, vol. 19 no. 2
Type: Research Article
ISSN: 0737-8831

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Article
Publication date: 1 September 2001

Judy Cumby and Joan Conrod

The limitations of financial metrics in assessing performance in the new economy generate demand for non‐financial measures appropriate for evaluation of shareholder value…

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Abstract

The limitations of financial metrics in assessing performance in the new economy generate demand for non‐financial measures appropriate for evaluation of shareholder value creation. The suitability of non‐financial measures for external reporting continues to be explored by professional accountants, capital market regulators, and academics. Investigates research developments and their applicability to the biotechnology industry. Examines the externally published information of public Canadian biotechnology companies with a view to the development of measures appropriate for evaluating corporate performance. Represents the findings from the first of a two‐phase research project designed to explore the techniques used to gauge the effectiveness of communication regarding performance in the Canadian biotechnology industry.

Details

Journal of Intellectual Capital, vol. 2 no. 3
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 December 2001

Diane Ryland

Seeks to answer the question “whose interests are being served by the laws of purporting to regulate genetically modified organisms?“ Considers the interests of the seed/chemical…

Abstract

Seeks to answer the question “whose interests are being served by the laws of purporting to regulate genetically modified organisms?“ Considers the interests of the seed/chemical multinational companies, trade and investment for the countries in which these companies operate and the innovation of science and technology. Covers the European interests with regards to the single internal market and the conflict this can cause between economic and environmental/health interests. Looks at the issues from the US perspective and world trade. Continues by covering nature and the environment followed by health and safety and the rights of consumers. Assesses the regulations of the European community in order to find what protection is available.

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Managerial Law, vol. 43 no. 6
Type: Research Article
ISSN: 0309-0558

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Article
Publication date: 1 July 2000

Dayuan Xue and Clem Tisdell

Modern new biotechnology has the potential to provide major economic and other benefits, but at the same time it poses potential hazards for human health, the environment, the…

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Abstract

Modern new biotechnology has the potential to provide major economic and other benefits, but at the same time it poses potential hazards for human health, the environment, the “natural” biological order, and can have adverse socio‐economic consequences. The application of such technology frequently violates traditional ethical, moral and religious values. This paper, after outlining possible benefits of modern new biotechnologies, discusses the type of biosafety risks which they pose, their possible adverse consequences for the sustainability of biodiversity and agriculture and their potential impacts on socioeconomic welfare and traditional cultures. Particular concern is expressed about the possible consequences of such technologies for developing countries and the practice in some developed countries of issuing patents conferring very broad rights over the use of genetically engineered material. Because these rights are so broad, in some cases they have the potential to establish powerful multinational monopolies in the hands of private companies. Global debate about these issues suggests that more emphasis should be given globally to the socio‐economic consequences of such technology than in the past. The need for this is highlighted by the North‐South divide. Developing countries lag considerably in this new technological field, are placed in a dependent position and have weak institutional structures to control the application of such technology.

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International Journal of Social Economics, vol. 27 no. 7/8/9/10
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 9 January 2007

Robert Chapman Wood

Explains (using a model and cases) how companies that lack a capability for continual strategic innovation can bring one into existence.

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Abstract

Purpose

Explains (using a model and cases) how companies that lack a capability for continual strategic innovation can bring one into existence.

Design/methodology/approach

Author developed histories of how continual innovation emerged or failed to emerge in six firms, drew conclusions based on what worked in the successes.

Findings

Strategic innovation gets started with a five‐step process that involves improvising initial innovation processes, then learning from what was improvised.

Research limitations/implications

Though the companies studied were selected to represent different industries and kinds of strategic innovation, the number was relatively small. Findings should be replicated in studies of more firms.

Practical implications

Instead of using standard organizational change models that call for clear goals that leaders can manage to, firms seeking repeated strategic innovation should create inspiring but necessarily vague goals, improvise first steps toward them, and encourage emergence of innovation routines based on what was improvised.

Originality/value

Provides an evidence‐based model of how to bring Continual Strategic Innovation into existence.

Details

Strategy & Leadership, vol. 35 no. 1
Type: Research Article
ISSN: 1087-8572

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