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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.

The European private banking industry is facing unprecedented levels of strategic and operational change. The 1994/95 edition of the Price Waterhouse European Private Banking Survey sought the views of 70 leading private banks on the principal issues and opportunities, including the specific views of their chief executives. Explores the areas of strategy, clients, products technology and profitability in the context of achieving profitable and sustainable growth.

This study aims to suggest that firms and stock market investors are more sensitive about inventory leanness when industry information technology (IT) usage is high. First, when industry IT usage is high, a firm's inventory leanness is more responsive to information inputs (cash holding and sales efficiency). Second, when industry IT usage is high, the price-to-earnings ratio (indicative of stock market investors' willingness to pay a premium) is more sensitive to the firm's inventory leanness.

This study highlights the contextual role of industry IT usage during the 1998–2009 lost decade (wherein the steepest falls in manufacturing jobs happened in the USA).

The results highlight the significant contextual role of industry IT usage. In manufacturing industry sectors with high IT usage, (1) inventory levels of firms are more responsive to information inputs and (2) stock market investors have greater appreciation for inventory leanness.

The lost decade, 1998–2009, was a difficult period for the manufacturing industry. Nonetheless, there was variation in stock market valuations of manufacturing firms, with many firms outperforming others. Stock market investors were sensitive to inventory leanness. Firms that positively impressed stock market investors were strategically positioned in high IT usage industry sectors and prioritized inventory leanness. Further, their inventories were sensitive to information inputs – their inventories were leaner in response to improved sales-efficiency and/or shortage in cash.