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As we start the beginning of a new year, it is the time when we look back at the past year and set our business goals for the next 12 months. How many of you will have achieved all of your new origination goals for 2006? What can you do to ensure that you will hit your goals for 2007 and create a path of success for yourself and your firm?
We find that every year, we meet attorneys who have high expectations and set lofty goals, yet they always have a difficult time achieving those goals. We talk to more and more people each year who are frustrated because they, or their firm, have not achieved their origination goals. We realize that very few people create 'SMART' goals and follow and track a plan. Our experience tells us that most attorneys do not plan or track business development behaviors to ensure their financial success each year.
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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.
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