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Prospective Partners Ask Small and Midsized Firms Tough Questions About Succession
In the past, when up-and-coming young lawyers and lateral candidates were invited or recruited to join a law partnership, they often gave little thought to whether the required capital contribution was a good investment. Partners made a lot of money. The rising stars wanted in. Most of the time they assumed that accepting responsibility for the firm's debts, obligations, and liabilities — even signing personal guarantees — would be a good idea.
Today, at most big firms, these assumptions are likely correct. But at small and midsized law firms, this is not always the case. Senior associates, non-equity partners and lateral candidates are well aware of the spectacular implosions of storied firms, and the disasters that followed for their capital partners (including, even at large firms, clawbacks by bankruptcy trustees from partners who had resigned years before). Many want to know whether the firm is well-positioned financially to grow and prosper when the current generation of senior partners retires. To get the information they need to value an investment in the firm, they turn to its finance professional (such as its CFO, Controller, or other financial manager).
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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.
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.
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As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
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