An Overview of China's New Bankruptcy Law
November 06, 2006
After a long gestation China's new Enterprise Bankruptcy Law (Bankruptcy Law) will become effective on June 1, 2007. <br>The Bankruptcy Law is the first standardized bankruptcy law in China, replaces the old law and myriad other regulations, and removes some of the administrative uncertainty that existed under the former sets of regulations. The Bankruptcy Law applies to all enterprises 'with legal person status,' including SOEs, private companies, limited liability companies, companies limited by shares, and foreign-invested enterprises (FIEs). Individuals and partnerships are not subject to the new Bankruptcy Law.
China's World Trade Compliance
November 06, 2006
Board of Editors member, Prof. Usha Haley, spoke at the U.S.-China Economic and Security Review Commission Hearing on China's World Trade Compliance. In Part One, she addresses subsidies, their forms and complications. In Part Two, she covers how profitable and available those subsidies are and how profitable companies are that serve the China market.
CD: 11/29/2006 How to Increase Revenue $1 Million in 1 Year
November 02, 2006
How to Increase Revenue $1 Million in 1 YearA Case StudyNovember 29, 200612 p.m. - 2 p.m. EasternWeb Audio ConferenceChuhak & Tecson, a 55-lawyer Chicago law firm, began an intensive program of business development coaching 20 of its income partners in 2005. A year later, the group had brought in $1 million in new revenue, with one partner DOUBLING his fees billed. The firm spent only $24,000, met its goal and showed an ROI of over 4000%.
The Magic of Making Rain
November 02, 2006
In today's complex law firm business environment, one might ask, what is Mark or Mary's magic? How do they bring in so much business? How do they make those deals happen? To ensure the long-term 'harvest, life, health and abundance' for the firm, one must ask whether the magic of rainmaking can be developed in new associates, seasoned lawyers or law firm executives. <br>As a lifelong advocate of professional development, I must confess that some of the skills may not be teachable, but are rather a part of an individual's personality and intuitive style that, when combined with their legal expertise, create an ability to make connections, build trust and sustain relationships. However, we are able to develop a lawyer's and his or her team's skills over time ' and that is an essential element of a rainmaking team that has depth.
Is Sales Training Worth the Investment?
November 02, 2006
A veteran sales trainer was trying to convince a room full of sales professionals to simply keep an open mind. Glancing at the class and back to the flip chart, he tapped his finger on the hand-written third circle and explained: 'This is where ' you don't know what you don't know!' After explaining the first two circles that represented information that 'you know you know,' and 'you know you don't know,' I had to reflect on this profound concept for a moment. And of course ' he was right! The danger zone is clearly the outer circle where one doesn't even recognize the need for knowledge or information.
Developing a Thriving Client Team Program
November 02, 2006
Law firm management is still battling to build and maintain a thriving law firm client team program. Thrive is used purposely to emphasize a point. Programs and initiatives come and go, often without meaningful impact, but to thrive is to make steady progress; to prosper, flourish, and grow vigorously (courtesy of dictionary.com for this purpose). Client teams need to thrive to succeed because anything less will not produce the revenue and relationship goals the program promises to deliver. Success will depend on continuous support from many sources, motivated teaming, rigorous processes and probably fundamental cultural change. That would be tough enough if it was the absolute top priority of any business. Would you be surprised to learn that client teams have not yet reached this exalted status in most law firms?
How to Attract and Acquire a Practice Group
November 02, 2006
If you could bring in a new group of clients generating $10 million in annual legal fees, would your partners make it a priority? How about $15 million? Or $20 million? Those were the estimated historical revenues of three different groups of rainmakers (and supporting casts) assisted by Major, Lindsey & Africa in the first half of 2006 as they transitioned to new law firms. Such acquisitions of groups led by major rainmakers reflect a sea change in how the legal profession does business, particularly with respect to growth. No longer satisfied with a model of organic growth 'up through the ranks' or the more recent sporadic additions of individual partners, more firms are turning their focus to the acquisition of entire practice groups; bringing with them seven- and eight-figure practices. (Mergers of entire firms, while far more common than a generation ago, are a topic for another article. While they provide many of the benefits of a group acquisition ' and sometimes far more ' there are fewer and fewer attractive and willing merger partners to consider.) For most law firms, growth no longer focuses simply on the number of attorneys, but rather on increasing revenue per lawyer, profits per partner, geographic footprint and diversity of practice areas.
Right of Publicity Decisions
November 02, 2006
Right of Publicity/Statute of Limitations<br>Right of Publicity, Collective Bargaining Agreements/Venue Transfer
EDITOR'S NOTE
November 02, 2006
Our 2006 bonus issue provides a review of top issues in entertainment law over the last year, and focuses on right-of-publicity, trademark and related cases. The coverage here is in addition to what we have reported on in our regular monthly issues. As always, our objective is to help keep you competitive in the ever-fast-paced entertainment industry. …
