A Leap of Faith
August 28, 2008
Interviews with senior associates and individuals in their first or second year of partnership (particularly equity partnership) reveal that they frequently face a number of surprises ' even shocks ' when they enter their new, long-desired status. Here's what to do.
Consent to Sublease
August 27, 2008
Substantial portions of commercial space are commonly available via sublease. In comparison with a direct lease (which customarily becomes effective upon execution and delivery by the Landlord and the Tenant), a sublease usually only becomes effective if and when the Sublandlord and Subtenant execute and deliver the Sublease and the Master Landlord executes and delivers a Consent to Sublease.
Law Firm Leadership: Accessing the Inner Entrepreneur
August 27, 2008
Founding and/or senior partners are the finders, and they hire minders and grinders to do the bulk of the work. Then the day comes when these hires are instructed to go out and get new clients. Suddenly, a population trained to "succeed" in one way has to learn to survive in a vastly different environment.
MLF 50 Deadline Extended
August 27, 2008
The deadline for submissions to the coveted MLF 50 ' The Top 50 Law Firms in Marketing and Communications ' has been extended to Monday, Sept. 29, 2008. Click <a href="http://www.lawjournalnewsletters.com/issues/ljn_marketing/22_3/news/150739-1.html">here</a> to see the submission criteria.
The Impact of New Vehicle Technology
August 27, 2008
Part One of this article discussed the types of vehicle-related accidents to which children fall prey and described some ways technology has developed to avoid such accidents. The conclusion addresses the role of parents and caregivers in vehicle-related accidents and the new type of litigation spawned by new technology.
LLC Interests May Constitute 'Securities'
August 27, 2008
Recently, the Second Circuit Court of Appeals, in affirming convictions for securities fraud and conspiracy to commit securities and mail fraud, ruled in <i>U.S. v. Leonard</i>, that interests in various limited liability companies ("LLCs") onstituted "securities" for purposes of the federal securities laws. The Leonard analysis is instructive of the process that a court will follow in considering the status of non-traditional securities, such as LLC interests, under the federal securities laws.
Realization ' Another View
August 27, 2008
For many managing partners, the practice of law is easy compared with the challenges associated with "realization": an 11-letter word that is the bane of all managing partners everywhere. And 100% realization? Well, that's the Holy Grail of law firm management. Given the choice of winning a Supreme Court case or solving the riddle of meeting their firm's realization goals, many managing partners might just tell the Chief Justices to take a hike.
Reasonable Compensation for Law Firms and Attorneys
August 27, 2008
This article is intended to provide some fundamental guidance for attorneys and law firms whenever employee-owner compensation is at issue. In many instances, this focus will relate to ownership decisions regarding the overall allocation and character of enterprise profits, but the same concepts and analytical framework can be of benefit in the assessment of reasonable compensation for other purposes, such as the valuation of a non-compete agreement and in the segregation and measurement of personal/professional versus enterprise goodwill for dissolution of marriage purposes in jurisdictions where this aspect is in play.
