text: G. E. Briggs and J. B. S. Haldane undertook an analysis that harmonized the approaches of Michaelis and Menten and of Van Slyke and Cullen, and is taken as the basic approach to enzyme kinetics today. They assumed that the concentration of the intermediate complex does not change on the time scale over which product formation is measured. This assumption means that . The resulting rate equation is as follows:
  where
  This is the generalized definition of the Michaelis constant.