The Evolution of a Lease Provision: Sublease and Assignment
February 09, 2004
In the absence of a lease provision restricting subleasing and assignment, common law permits a tenant to freely sublease its leased premises or assign its leasehold interest in the leased premises. In order to provide for maximum landlord control over a tenant's ability to sublease or assign its leasehold interest, while at the same time balancing the need of tenants for an exit strategy, modern forms of leases contain extensive assignment and sublease provisions. This article traces the manner in which those provisions have evolved over the years.
Can Law Firm Partners Sue for Employment Discrimination?
February 01, 2004
Traditionally, law firms were organized as "true partnerships" in which each partner had a substantial voice in firm affairs and could be subjected to unlimited liability for the debts of the firm. As high-profile cases have highlighted the risks of such a structure, however, many firms have abandoned the classic form and adopted "hybrid" business models such as professional corporations, limited liability companies and limited liability partnerships. Such consolidation of control comes at a cost, however. By configuring themselves as "de facto corporations" - placing substantial control in the hands of a few and subjecting the remaining partners to the decisions of those in power - firms may expose themselves to employment discrimination suits brought by their own partners.
Around the Firms
February 01, 2004
Movement among major law firms and corporations.
In-House Sales Coaching
February 01, 2004
The business of law is changing rapidly. The trend toward consolidation of outside service providers by client companies has accelerated, and is coupled with the demand to harness legal expenditures by the executive teams of these companies. Law firms must now sell the value of the business they are seeking, and must sell the breadth of their services in increasingly complex sales situations. These functions and skills, in most industries, fall within the domain of the sales professional.
Same-Sex Spouses in MA: The Effect on Employee Benefits
February 01, 2004
The news lately has been filled with stories about the Massachusetts Supreme Judicial Court's ruling that a law banning same-sex marriages is unconstitutional. The ruling has a 180-day delayed effective date. Employers should begin to examine their benefit programs, as well as their policies and procedures, to determine what impact this ruling may have on their employee benefit plans.
Benefits Spotlight: Tax-Free Commuter Benefits
February 01, 2004
A relatively new and Congressionally approved benefit for employees is the provision of transportation benefits ' such as parking; subway, bus, train fare, or vanpooling ' on a tax-free basis. By reducing the cost of commuting, an employer can reap many rewards including appreciation of employees of their tax savings, reduced employment taxes paid by the employer and even reduced stress by employees. However, although Congress attempted to allow employers to provide tax-free commuter benefits to employees in a simple fashion, there are some esoteric rules of which employers should be aware.
The Write Stuff
February 01, 2004
Buying advertising space is one way to promote your firm, but it is also expensive. Papering premier publications with your press releases is free, but also very difficult. A far more effective way to get your firm's name "out there" is to produce bylined articles, written by members of your firm, discussing timely, relevant topics of interest to the companies or individuals whose business you have or would like to acquire. Like press releases, these articles are "free" in the sense that you do not have to pay the publications that publish them. And there is no better way to demonstrate your firm's expertise in a practice area than to have someone write knowledgably about it.
Case Briefs
February 01, 2004
Highlights of the latest insurance cases from around the country.
Tax Returns Can Make or Break Your Case
February 01, 2004
The primary purpose of a tax return is for government entities to assess income taxes on the earnings of a business or individual, but in divorce, the role of the tax return is much broader and serves various purposes. Business and personal tax returns should be thoroughly analyzed before marital assets are divided and before income is set for the purpose of determining spousal maintenance and child support. If analyzed properly and creatively, they can help show whether: 1) there was financial irresponsibility; 2) income is much greater than appears on the surface; or 3) assets no longer exist that one spouse assumes still do exist.
Road to Large Law Firm Partnerships Getting Longer
January 01, 2004
The fast track at top law firms is slowing down. Facing increasingly complex matters, an active market for lateral partners and greater pressure to improve profitability, major New York law firms are prolonging the period leading up to partnership. At firms where an associate's first shot at partnership once came 7 years after law school graduation, tracks of 8 years or longer are now far more common.
