A financial services firm appoints a consulting firm to redesign its supplier risk dashboard. The consultant will use the buyer’s internal supplier data, existing risk categories, and procurement templates. During the project, both parties may jointly develop new scoring logic and reporting formats. The consultant argues that it must be able to reuse its general expertise in future projects, while the buyer wants to prevent competitors from receiving tools built from its internal information. What should procurement ensure in the contract?

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Limit the contract to fees and deliverables because confidentiality obligations are implied in professional consulting work.

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State that all consultant knowledge from the engagement belongs to the buyer because the consultant is performing work for the firm.

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Allow the consultant to retain all project outputs because professional-service providers normally own their working methods.

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Define ownership and permitted use of the buyer’s information, project outputs, and any residual tools or methods.

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A financial services firm appoints a consulting firm to redesign its supplier ri...

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