“The suit that suits you”
Every Business Lawyer is taught about claims arising from negligent or fraudulent conduct, how to assert claims before the proper authorities, just compensation as well as the circumstances that form the fair & reasonable price in a transaction (purchase of a product or provision of a service). The term “Fairness” is a relative term as shaped by the perception of the average prudent person, the average consumer. The term “Reasonable” is not so familiar to the common perception and means what is justified: that which is shaped by the circumstances, those ones at any given time.
So what is the reasonable and fair price that every businessman demands and how does it relate to the product or service he offers to each customer? Every customer is looking for the appropriate service or product that meets his needs and will offer him the maximum satisfaction.
How will the entrepreneur really listen to his/her need, listen to the customer and offer the right options to solve his/her problem or respond to his/her request? In case he/she have the appetite and time to do so, an initial business-client contact is wise to end with the statement “You will be informed about the cost “offer” of the service or product that suits you” before proceeding to the assignment of the project. This is where the scales come into play, what is the “appropriate suit to come out”, the Fair & Reasonable Price to be sought taking into account the circumstances: speed of processing, bureaucracy, scientific training or craftsmanship, complexity of the case on special order, risk taking.
Of course, all of the above seems like procrastination in carrying out a transaction, drawing up a profitable cooperation agreement, where business dictates that it must run non-stop and competition is fierce.
The above circumstances can be described as the main indicators for assessing the value of the service offered and leading to an approximate fair and reasonable price to be charged to the customer. Not that there are not other indicators of minor importance, e.g. reputation of the operator/provider, indexation rates, but I thought I would dwell on the most crucial ones.