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If there were no clients, there would be very few successful professionals. There would be no transactions to consummate, no lawsuits to litigate, no petitions to file. But there have always been clients and, before the “new economy,” many professionals were legitimately too busy ' with billable work ' to develop business. The Godfather (or the Fairy Godmother, depending on your firm's particular mythology) went out into the world and brought back clients for you to serve happily and skillfully.
And all was well, until it wasn't. Budgets shrank, businesses collapsed, and fortunes were lost. Suddenly there were all too many great professionals who could do just what you do ' at lower hourly rates.
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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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