The importance of our proposed addi

The importance of our proposed additional
elements is revealed, for example,
by the explanation of why the person to
whom the control monitor is responsible
receives the residual, and also by our
later discussion of the implications about
the corporation, partnerships, and profit
sharing. These alternative forms for organization
of the firm are difficult to resolve
on the basis of market transaction
costs only. Our exposition also suggests a
definition of the classical firm-something
crucial that was heretofore absent.