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The Challenge of Strategy Implementation: Tools for Turning Your Firm's Strategic Plan into Action
Does your firm have a strategic plan? Do you know where that strategic plan document is currently located? Is it tucked away in a dusty folder, hidden among a pile of abandoned firm initiatives? Or is your plan integrated into the fabric of your firm ' indoctrinated into your firm's practices, people, and culture?
Unfortunately for many law firms, strategic plans frequently remain in the form of untouched documents, failing to materialize as a part of the firm or its people. Research indicates that 90% of organizations fail to effectively execute their strategic plans. [See Chris Zook, with James Allen, Profit from the Core, Boston, MA: Harvard Business School Press, 2001.] The reasons for this are varied, but as discussed later in this article, most hinge on the fact that strategy implementation is resource-intensive and challenging. Nonetheless, strategic planning remains a top priority among successful law firms, based on the fundamental notion that an effective strategy offers unique opportunities for market differentiation and long-term competitive advantage. Given the importance of strategy and its execution, firms today are increasingly asking the question: What are the best tools and methodologiesto enable effective strategy implementation?
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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.
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.
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.
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.