Any reform will produce some losers. It is important to clarify the negative short-term economic and social effects and how (if at all) they will be mitigated. Time and effort invested up front will help ensure successful implementation. Some formulas allocate rights to fishing firms for an indefinite period. Others allocate fixed individual rights for a set period and adjust the volume according to annual stock variability, either re-issuing rights as they expire or buying back surplus rights and issuing additional rights. When it comes to “sequential” fisheries (i.e. fisheries that target the same stock at different times, different places and different growth stages), institutional arrangements to maximise the overall use of the resource (e.g. in French crab fisheries) combining several management tools (in particular access regulation and technical measures) can be useful.