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Basics Revisited: Evaluating The Profitability Of New Work
Your 50-attorney firm has been operating slightly under capacity; there is not enough work to keep all attorneys billing their standard hours. A prospect would like to engage the firm to handle all its litigation, which would mean a substantial number of guaranteed billable hours. Good news, right? This company, however, wants to negotiate a discounted rate and also wants specific partners to handle the work. Your initial instinct tells you to take on the work to keep the firm at maximum capacity. But will it be profitable in the long run? Should you take on the work? How can you decide?
The way a law firm makes decisions about taking on new revenue starts with an understanding of profitability ' and the underlying factors that affect profitability. Before accepting any new work, any firm should consider five key factors: production, utilization, realization, leverage, and speed. The first four elements are crucial any time a firm considers new revenue.
Production
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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.
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.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.