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Client Speak: The Red Zone Is Wide Open
Down economy. Incipient recession. Sub-prime credit crunch. Those are excuses that smart marketers don't use. They're catch-phrases that aggressive business developers never rely on. They're facts of life that do not impinge on the agendas of street-smart lawyers. Especially street-smart lawyers adept in the art of closing inside the Red Zone where ' marketplace conditions notwithstanding ' client prospects are always a breath or two away from saying yes, if only you know how to get them to say it.
To be sure, some firms are hamstrung by their overall strategies. If, for example, your core practice is heavily oriented toward structured finance, it's likely that the current credit crunch has wreaked havoc on your bottom line. That said, fungibility should always be just a wave of the wand away. Can lawyers be retooled into less affected transactional or real estate practices? Can they be trained to sell the skills that the marketplace now demands rather than the ones they've refined over the last few years?
Here's a simple but powerful case in point. The very day the stock market crashed in 1987, a visitor at Winston & Strawn asked the managing partner, 'What are you guys going to do now?' The managing partner was unperturbed. 'Build up our bankruptcy practice, of course,' he replied with a smile.
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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 Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?