Drafting a Ground Lease When the Underlying Tenant Will Be a Single-Use Entity
June 01, 2004
Commercial real estate professionals often draft ground leases for those situations in which a tenant (the "Ground Lessee/Sublessor") leases land from a fee owner (the "Ground Lessor") to be developed into a shopping center or some other development with a mix of retail or other commercial tenants. Numerous occasions arise, however, in which a ground lease is needed because the Ground Lessee/Sublessor intends to sublease the parcel to a single-use tenant entity (the "Tenant"). When drafting the sublease for this Tenant, the real estate practitioner must tailor the ground lease to take into account the specific requirements of the Tenant's sublease.
IP Due Diligence: What Does It Mean to You?
June 01, 2004
The evaluation of the assets and liabilities of a business is referred to as a due diligence review. Most commonly, these evaluations determine the value of a business for purposes of investment or the establishment of a relationship with the business. Because the value of intellectual property has increased substantially recently and patent protection in many countries has expanded to cover software and business methods, businesses without IP assets and existing or potential IP-related liabilities are rare. With the consistent increase in damages for IP infringement and the possibility of business-crippling injunctions, it is likely that any business will be subject to, or will itself conduct, an IP due diligence.
The Leasing Hotline
June 01, 2004
Highlights of the latest commercial leasing cases from around the country.
IP Value After the Bubble
June 01, 2004
Enterprise value is the difference between a company's book value and a company's market capitalization. It is a consequence of the difference between value as defined by generally accepted accounting principles and value as defined by investors. Over the past few years, enterprise value has been used as a proxy for intellectual property value. During the market bubble years when market capitalizations were well in excess of book values, IP emerged as the new "must have" high-value asset. Skeptics now suggest that the collapse of the bubble took the air out of patent value. This author and his firm suggest that a requiem commemorating the demise of patent value would be premature. We also suggest that there is good empirical evidence why market-based valuation systems for IP are reasonable.
Should You Get an Exculpatory Patent Opinion? Some Neglected Considerations
June 01, 2004
In general, when confronted with the threat of a patent infringement suit, companies undertake a simple calculation to determine whether to seek an exculpatory opinion of counsel. Specifically, the potential infringer determines the amount of damages likely to be assessed in the event infringement is found, and whether the enhancement of those damages exceeds the (often considerable) cost of a non-infringement opinion. Of course, the necessity of obtaining an opinion is likely to be affected by the pending <i>en banc</i> opinion from the Federal Circuit in <i>Knorr-Bremse v. Dana Corp.</i> However, assuming that exculpatory opinions will continue to have a role in the willfulness calculus, this simple cost-benefit analysis will remain in use.
Intellectual Asset Literacy: Implementing IP Education Programs
June 01, 2004
Patent practitioners need to do better in sharing their expertise with senior executives, managers, and other personnel. Business leaders, economists, and the general public are increasingly aware of intellectual assets and their value. However, few people actually possess intellectual asset literacy, let alone a deeper appreciation of the principles, strategies, and challenges surrounding patents and other IP. There is a need for high-quality IP education initiatives within organizations of all sizes.
The View from Canada: A Winning Client Development Strategy
June 01, 2004
Everyone agrees that the world for those delivering legal services to Fortune 500 clients is in a state of tremendous flux. Demands placed on lawyers and firms to deliver for their clients have never been more challenging, or potentially more rewarding. This new reality has created an enormous opportunity for Canadian law firms with the ability to offer service in the U.S., and it also creates an opportunity for U.S. firms to gain access to a rich talent pool.
Eureka! I Struck Data!
June 01, 2004
Thar's gold in them thar hills." Like the miner panning for gold, you can increase revenues and profits by finding nuggets of data, which has been captured in your software programs. This critical information can provide a blueprint for creating a plan for future business development that will increase your revenues and your profits. Yet, few law firms take advantage of their existing data by analyzing it and then using it strategically. <br>Data, such as the client referral source industry or marketing activity that generated the client, the client industry and client matter linked to the clients' revenues can be the foundation for future marketing efforts.
Signs That Your Service Has Matured
June 01, 2004
In recent years, many firms have reluctantly bitten various bullets and abandoned practice areas that can no longer support their fee structures. Long before the firms' decided to get out of those businesses, though, many lawyers practicing in those areas suffered steady diminution of their earning power, professional satisfaction and internal prestige. This unnecessary human cost could have been avoided, or at least minimized, if only firms recognized sooner that the services were maturing. If they had, they would have had much more time to prepare their lawyers and ease the inevitable transition to newer, more valuable services. So, what early signs warn alert firms that a service is aging?
<b>Media & Communications Corner: Media Relations In The Midst Of A Merger</b>
June 01, 2004
The decision to merge your law firm with another is complex. Not only must you consider the myriad financial and business details and weigh how the firms will mix culturally, you must also carefully plan out how you will announce the decision to your support staff, clients, vendors and consultants. Each of these groups is important and each needs special attention. <br>Of course, you must notify the public as well, and the best way to reach this massive group is via the legal, business and local media. It makes sense to work with public relations professionals while you go through the merger process.
