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In Search of Intangible Asset Value
It used to be that when faced with the question of “duplication” or “double dipping” in connection with assets that are distributed upon marital dissolution and income used as a basis for maintenance awards, one needed to look no further than the income that was capitalized in determining the value of the asset. In other words, it was typically held that income that forms the basis for the value of an asset is not also available for purposes of maintenance, lest you would effectively be distributing the same income stream twice. It did not matter whether the income was derived from a medical practice, a car dealership, a widget manufacturer, commercial real estate, or an enhanced earnings capacity.
Since 2004, however, with the troubling Court of Appeals decision in Keane v. Keane, 8 NY 3d 115 (NY 2004), the identification of income that is unavailable for purposes of maintenance awards (should one wish to avoid a distribution of an earnings stream more than once) has become more complex In Keane, the court distinguished between tangible and intangible income-producing assets, and decided that income associated with the former should not be off limits when considering a maintenance award. In other words, it allowed the “double dip” on income generated from “tangible” assets. Subsequent Appellate Division decisions have cited the Keane decision in allowing this overlapping award with respect to income produced by “tangible income producing properties,” which has been deemed to include service businesses (not just commercial real estate).
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.
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.
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.
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.