Introduction

This chapter introduces a range of increasingly ubiquitous business models that can be regarded as falling in between the notions of ‘markets’ and ‘hierarchies’. To date, the legal conceptualisation of business models that can be characterised as ‘between markets and hierarchies’ is limited, as such business models are fraught with ‘categorisation’ problems. The default legal treatment of such models is contractual governance, but this volume queries if this is optimal and whether there is a need for some organisational framing and governance norms. The introductory chapter presents an overview of the following business models: business networks, the global supply chain, the platform economy, the blockchain-based economy and the public-private partnership.