Deals : The Economic Structure of Business Transactions

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Michael Klausner, Guhan Subramanian 978-0674303539 Harvard University Press 2026

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Business transactions take widely varying forms, from corporate mergers to patent licenses to the signing of an all-star quarterback. Yet every deal shares the same goal, or at least should: to maximize joint value and distribute that value among the parties. Building on decades of experience advising on business deals, Michael Klausner and Guhan Subramanian show how to accomplish this goal through the design of incentives, mitigation of information asymmetries, and attentiveness to parties’ rights and obligations.

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