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After finally making the difficult decision to sell the business that he or she built, how does that entrepreneur react when his or her attorney sends 50 pages of fine print for review?
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Gray-haired, older, or as I shall refer to them, senior partners, as a class, represent a challenge that most managing partners find vexing. Many firms have avoided addressing this very complex issue either because of the emotional reaction it invokes, or because they just don't see it as a real problem yet. Others have adopted the apparently simple solution of setting a mandatory retirement age at which the partner is expected to stop practicing and head for a retirement community.
In the first of a two-part article, our expert author examines some issues that e-commerce counsel should pay particular attention to when advising e-commerce startups, particularly small, single-entrepreneur or small-group driven Internet-based storefronts.
In the 20 years I have worked with and for in-house counsel and CEOs, this recent statement to me by a Fortune 100 senior in-house counsel is the strongest yet. Over the years I've compiled a number of such statements, which, if more moderate in tone, are equally serious in intent. Many of them zero in with a great deal of specificity on buyers' discontent and, as such, are particularly helpful, if disconcerting.
Highlights of the latest commercial leasing cases from around the country.
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A commercial real estate attorney representing a client that needs title insurance in a commercial real estate transaction must consider which endorsements would be best to provide the client with all the necessary title insurance protection. This two-part article addresses which American Land Title Association ('ALTA') endorsements are typical when representing a buyer, tenant, or lender in an acquisition or lease of commercial property. In addition, the article discusses a few non-ALTA endorsements that are available in many states.
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Part One of this three-part article discussed credit support transactions in general. This installment concentrates on income support.
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For years, the commercial real estate market has been sizzling.Cap rates are down. Prices are up.Nevertheless, you managed to beat out the competition and buy a few shopping centers. To justify the price you paid, however, you need to increase the net operating income ('NOI') from your property. Now, however, the economy may be facing the headwind of a slowdown, if not an outright recession, which creates resistance to rent increases; so you may not be able to rely on ordinary rent increases to bolster your NOI.
Force majeure clauses are used in leases to extend the date upon which a party's performance of an obligation is due. Often such obligations pertain to the delivery of the building and/or leased premises. This article explains and discusses sample force majeure clauses and suggests ways to protect the party not claiming a delay caused by an event of force majeure.