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Who Will Run Your Franchised Hotel?
Management agreements provide the vehicle through which investors in hotels, restaurants, and other commercial properties engage professional managers to operate their properties. The practice began in the lodging industry after the end of World War II when hotel construction boomed in response to demand from middle-class American families for clean, moderately priced travel accommodations ' the same demand that spawned the Holiday Inn chain and other lodging industry franchises. Investors with no experience in hotel management fueled the boom in hotel construction with their capital, but professional managers generated the returns on investment the investors craved.
By the late 1960s, management arrangements between property owners and independent, professional management companies had become commonplace in the lodging industry. Nowadays, insurance companies, pension funds, and real estate investment trusts (REITs, which the tax laws prohibit from actively managing their own properties) own many of the large hotel and resort properties. These and other institutional investors invariably choose to rely on professional help to operate their properties instead of developing their own property management infrastructures.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
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.
Major Differences In UK, U.S. Copyright Laws
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.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
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.