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Last month's article, Training the New Crop of Incoming Associates, addressed adult learning theory at a 30,000-foot level. This article delves deeper into what firms can do to support their attorneys who lead training initiatives such as on-boarding new associates, delivering substantive knowledge, designing skill development training or any other aspect of professional development in the legal field. As noted in the previous piece, training lawyers has its own set of issues to overcome.
The number one impediment to getting attorneys to participate in training is time. In the corporate world, oftentimes employees are given dedicated time to complete training. Even in today's virtual world, these entities support employees in disconnecting from work. The Association for Talent Development's 2020 annual industry analysis notes the average number of employee training hours was 55.4 in 2020. Aside from CLE requirements, most firms have no hours requirements for continuing to develop skills and ability in one's career. In fact, it is common for lawyers to cancel attendance last minute or to bring client work into the learning environment.
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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.
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.
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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.
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.