Renkemeyer Case Sheds Light on Law Firm Tax Issues
A recent tax court case dealt with two issues that are relevant to many law firms. The first issue is the allocation of partnership income to the partners in the absence of a written partnership agreement. The second is whether income generated by a limited liability partnership is subject to self-employment tax.
Applying Supply Chain Management and the Theory of Constraints to the Practice of Law
More and more law firms are beginning to hire experienced business professionals from outside the legal industry to help run their businesses. With this experience from outside the industry, new ideas on how to more efficiently run law firms are being adopted. This article focuses on one such topic, namely the concept of supply chain management and the Theory of Constraints.
Features
How Joint Venture Was Developed for Touring Bands
This year, three bands boarded a vintage train for a tour through the American Southwest. The bands formed a joint venture to manage their Railroad Revival Tour and control revenues and related intellectual property, including a documentary DVD. <b>Matthew V. Wilson</b>, an associate at Atlanta, GA's Arnall Golden Gregory who structured the deal, describes the arrangement in the following interview.
Features
Analysis of Decision By Supreme Court on Video Games
Supreme Court Justice Antonin Scalia and his teammates recently mowed down California's ban on violent video games with fully loaded First Amendment precedents and barbed retorts to opposing arguments. In doing so, the U.S. Supreme Court reinforced a fundamental point: First Amendment protections do not depend on the medium of communication. Thus, video games are protected speech, and restrictions based on their content will be subject to strict scrutiny.
Features
Tax Court Divides Endorsement Income into Personal Service Or Royalty Earnings
The U.S. Tax Court decided that fees received by international pro-golfer Retief Goosen for so-called "on-course" endorsement deals constituted both personal service and royalty income.
New Business Structures for Keeping Cast Albums Alive
This article discusses how, in the wake of changing economic and industry conditions, new business structures have evolved to bolster the production and exploitation of cast albums while shifting the risk and reward from large labels to the authors, investors and producers of the shows themselves.
Features
Understanding and Mitigating the Legal Risks of Cloud Computing
Information governance policies and procedures can be developed to reduce the risks and realize the benefits of cloud computing.
Successful Mediation of Leasing Disputes
This article examines some of the key issues involved in a successful mediation. The article is framed as a conversation between lawyer and mediator.
Features
State Legislatures Consider UCC Article 9 Amendments
In early 2009 we reported about the formation by the Uniform Law Commission and the American Law Institute of a drafting committee to consider the first comprehensive set of changes to Article 9 of the Uniform Commercial Code since the amendments approved in July 1998. Given that approximately six months have elapsed since the launch of the legislative approval process for the 2010 amendments, we thought it an opportune time to review the progress of adoption of these amendments.
Features
The Case of the Broken Checklist
Intellectual property rights, such as a domain name, and trademarks and copyrights, can far outweigh an e-commerce enterprise's (and other types of businesses') tangible assets in value — and must be covered in the checklists that loan officers and outside counsel review to complete loan documentation.
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