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Law by the Numbers
Statistical analysis can be a practical tool to help any lawyer measure personal and firm performance against objective standards. This makes “The Business of Law'” understandable ' and makes the firm stronger as a result. Every law firm is a business and every business should know where it's going. Lawyers who understand statistical analysis of their firm's operation can explore operating efficiencies, gauge the firm's performance relative to its financial goals, and better assess and reflect value to clients in their bills.
This can be a challenge because too often the firm's owners lack basic business knowledge. Even partners may not possess the business competency to calculate, or even understand, the traditional key measures of law firm performance: realization, utilization, leverage and expenses. Many don't know, or understand, the firm's collection rate ' or even their own personal one. This is not to say that lawyers are oblivious to all financial numbers. The trend of national legal magazines publicly reporting annual financial information for the biggest law firms has transformed the profession's outlook. For the first time there was comparative data on revenue per partner, earnings per partner, and similar measures. Unfortunately, just like companies trying to impress investors and competitors, law firms began to make decisions based on maximizing revenue and profits per partner ' and neglecting financial basics.
Declining Fundamentals
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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 Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.