Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
This is a time of both celebration and uncertainty for the New York theater industry, which is in the process of reopening following its shutdown dating back to March 12, 2020.
In July 2020, I wrote an article regarding the legal issues for the theater industry posed by COVID-19. See, "How COVID-19 Has Impacted Broadway Productions," Entertainment Law & Finance, July 2020, p.1. I also gave CLE presentations for the NYS Academy of Trial Lawyers, Volunteer Lawyers for the Arts, and my law firm colleagues at Herzfeld & Rubin. With the reopening of Broadway now in full swing, this is an ideal opportunity to further delve into the topic and address new developments.
The shutdown of theater in New York was the direct result of executive orders issued by former Gov. Andrew M. Cuomo pursuant to emergency powers granted by the New York State Legislature. On March 12, 2020, five days after declaring a State of Emergency under Executive Order 202, Gov. Cuomo forbid public gatherings of 500 or more people. Not coincidentally, Broadway theaters have 500 or more seats. When the shutdown began, 31 shows were running on Broadway and 16 shows were scheduled to open in the coming weeks. Six, a new musical, which reimagines the six wives of King Henry VIII as contemporary pop stars, was scheduled to open on the night of March 12, 2020. (It's opening night was finally held on Oct. 3, 2021.)
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.