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By the time most businesses decide they need additional space to accommodate their growing operations, it is too late. While there is something gratifying about organic growth emblemized by folding tables in a conference room and triple occupant cubicles, the commercial leasing process is inherently stacked against tenants. This disadvantage is only compounded when the tenants are unprepared.
With the proliferation of institutional landlords in nearly every major U.S. market and across every asset class (not to mention an improving economy), commercial tenants encounter brokers anxious to make a deal and landlords under pressure from investors to stabilize rents. Even when the parties agree upon a “fair market rent,” today's institutional landlord comes armed with a 70+ page lease that will govern every aspect of the tenant's occupancy for next five, 10 or even 20 years. The result, not surprisingly, is that tenants end up signing leases that offer little to no flexibility as their businesses expand and contract, setting the stage for economic and operational stress that could have been avoided with upfront planning and prudent lease negotiations.
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There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
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The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.