LegalHub: theory: Difference between revisions

[[Mick Jagger]] and [[Keith Richards]] composed [[Satisfaction]] in 15 minutes whilst sitting by a pool in Florida. They are still, 55 years later, reaping colossal dividends from that inspired quarter hour. Fair play to them: this may be the law, but it is not good law. It is a bad model for [[reg tech]].

[[Rent-seeking]] encourages us to squirrel away [[Verbiage|verbal mush]] on the grounds that it is “proprietary technology”. There is ''nothing'' — utterly nil — that is special, clever or even ''desirable'' about legal [[boilerplate]].<ref>I take a liberal view of [[boilerplate]] as “anything that doesn't make it into the termsheet”.</ref>

To behold [[boilerplate]] is to witness the point where [[marginal utility]] touches zero. [[Legal]] [[negotiation]] is the dreary formality one must go through ''to get to the heart of the deal''. The same goes for that ISDA schedule — yes, friends, the whole god-forsaken thing, even the customised {{isdaprov|ATE}}s. No-one ''cares''. No-one ''likes'' it. No-one ''wants'' it. It is a regrettable externality; a grim fact of life. It is not the sausages; it is [[Ask nicely|the mask you need to put on so you can go into the supermarket]] and ''get'' the sausages.