Law, Strategy, and Competitive Advantage
31 Pages Posted: 14 Jan 2009 Last revised: 8 Mar 2011
Date Written: February 7, 2011
Abstract
Firms aggressively seek a competitive advantage over rivals. A voluminous body of strategy scholarship has identified numerous sources of competitive advantage. Yet, the notion that law may be a source of competitive advantage remains largely unexplored. This is surprising given the significant time and resources managers dedicate to legal issues. This article examines whether legal resources can generate a sustainable competitive advantage for firms. This article also identifies firm attributes and managerial attitudes that might encourage legally strategic thinking. This article concludes that law can be a source of a sustainable competitive advantage and numerous variables exist worthy of future study.
Keywords: competitive advantage, strategy, legal environment, firm behavior
JEL Classification: K20, L10, Ll20
Suggested Citation: Suggested Citation