The Insurance Industry Takes Another Swing at Efficient Dispute Resolution
February 28, 2007
The widespread use of arbitration in insurance and reinsurance disputes was intended to allow parties to resolve complex disputes quickly and efficiently by having persons with knowledge of the specialized terminology, standards, and practices of the insurance industry act as decision makers. This aspiration has been superseded by protracted and voluminous discovery, continual delays and postponements, extensive briefing, and lengthy hearings. In essence, all of the foibles of litigation have crept into the world of arbitration, leaving the insurance industry once again in search of an efficient method to resolve disputes.
An Overview of the New FTC Rule
February 28, 2007
On Jan. 22, 2007, after more than a decade of study, the FTC released its long-anticipated new Federal Trade Commission Rule on Franchising (the 'New Rule'). The New Rule comes into effect on a voluntary basis on July 1, 2007, with compliance becoming mandatory on July 1, 2008. Additional compliance guides are expected by July 1, 2007. Franchisors will have to make significant changes to their existing disclosure documents and follow new rules for how and when they are delivered to prospective franchisees.
Financing Payment Obligations for Services: Are 'Hell or High Water' and 'Waiver of Defenses' Clauses Enforceable in Contracts for Future Services?
February 27, 2007
The primordial cornerstone of financing equipment lease receivables has been the ability of funding sources to rely on the enforceability of two related provisions contained in the underlying lease documentation:1) 'Hell or high water' clauses, where the lessee agrees that its payment obligations under the lease are 'absolute and unconditional' and are not subject to any defense, setoff, or counterclaim that the lessee may have against the lessor, its assignee, the manufacturer or seller of the equipment, or against any person for any reason whatsoever — essentially, it agrees to pay 'come hell or high water.'2) 'Waiver of defense' clauses, where the lessee 'agrees not to assert against an assignee' of the lease payments, any defenses, setoffs, or claims it may have against the lessor, as the original payee under the lease.
An Overview of the New FTC Rule
February 27, 2007
On Jan. 22, 2007, after more than a decade of study, the FTC released its long-anticipated new Federal Trade Commission Rule on Franchising. This article outlines the key elements of the New Rule. The New Rule changes the coverage of the existing FTC Rule.
Determinants of Patent Value in U.S. Litigation
February 27, 2007
Although patent enforcement efforts have been historically dominated by the technology-elite, few businesses of the future will be exempt from the impact of patent infringement litigation. Indeed, data published by the USPTO and the federal judiciary reveal that the number of patent applications filed annually and the number of patent infringement litigations initiated annually have both more than doubled since 1990. Simply stated, business leaders of the future are increasingly likely to encounter one of two situations:1) The firm believes others are infringing its patents; or 2) Others accuse the firm of infringing their patents.
e-Lawyering Is Not for the Faint-Hearted
February 27, 2007
Today, the pervasive role that technology has assumed in business and legal practice, as more and more of our daily lives are lived online, provides a more fundamental challenge to how attorneys practice business law. In an age when 'paper file' has become an anachronism and an oxymoron, business law and the way it is practiced have required more than just tinkering with particular rules.
Making Rain
February 27, 2007
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.
<b>Practice Building Skills</b>: If You Fail to Plan, Then You Plan to Fail
February 27, 2007
Achieving success in your business development efforts takes a great deal of goal setting and planning. Would you begin working on a matter without planning for the outcome you would like to achieve? When you think about the successes in your life, did they mostly occur by accident, or did you plan and work hard toward a goal? Our guess would be that most of the successes in your life came to you through your hard work and planning, and sometimes even with some sacrifices. Successful business development occurs in much the same way.
Sustaining a Client Service Initiative
February 27, 2007
Most client service improvement initiatives fail to produce sustained results. While such a statement may seem harsh, I think that most would agree with it, based on their own experiences. After investing significant amounts of time, effort, and money in service improvement initiatives, most organizations do not attain the sustained results they were hoping for. Failure is usually not due to a lack of creativity or resources, but most often the result of a lack of long-term commitment to the hard work that sustainability requires.
