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In the Spotlight: Ten Suggestions for Owners Starting a Major Construction Project
There comes a time in the life of almost every company when it will engage in a major construction effort. Often the investment in the project will be among the largest ever made and can run into the tens or even hundreds of millions of dollars. Yet, because the management is expert in its own business and only periodically ' or even rarely ' engages in construction, the organization has little or no experience to call on in this new and important endeavor. The task is daunting because we all know of the horror stories associated with construction projects and their seemingly chronic tendency to finish late and cost more than expected or budgeted. Add to that the problem of having to face design professionals and contractors who make their living in the industry and the dizzying array of choices for how to buy the project, and a daunting task may seem insurmountable. What is an owner to do?
Here are 10 basic suggestions from a seasoned construction litigator, who has spent 20 years working on the back end of troubled projects, to help you on your way to a successful ' even though it may, at times, seem stressful ' project.
1) Have some perspective ' good construction professionals are here to help. On projects with a budget over $100 million (and perhaps some smaller ones), using a strong program management firm, along with a design team, will save money in the end by providing continuity and allowing integration of design and construction expertise.
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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
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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?