Beauty contests are competitions where judges scrutinize the personality, talent, appearance and logic of its contestants using a combination of rigid and subjective criteria, to determine, which entrant best exemplifies “beauty.”
While business law is not often correlated to spectacles filled with baton twirling or snippets of autobiographical monologues, there are times when a business will want to parade its attractiveness to a third party, such as a financing bank, much like a beauty contestant will want to win the favour of a panel of judges. When regarded in this manner, the business world is, in a sense, a “giant beauty contest” where players in both the private and public sectors use whatever means at their disposal (i.e. financial statements, client lists, and intellectual property) to gain advantage over competitors, only without peacocking in ostentatious evening gowns. Read More
