Managing Fiscal Fundamentals
In Part One, the author introduced the overall challenge of fiscal management in a law firm, and explained key metrics for understanding cash flow, cash gaps and revenue (collected fee receipts). This article's explanation of key performance metrics for law firms continues with measures for productivity, pricing and profit margin. We'll conclude with a brief discussion on where to focus in addressing profitability concerns, plus a few general comments on the effective use of numerical results in the larger context of organizational management.
Excuses, Excuses: FTC's Top Franchise Enforcer Has Heard It All
Steven Toporoff is the Franchise Program Coordinator at the Federal Trade Commission (FTC), and one of the key people working on Franchise Rule enforcement. At the International Franchise Association (IFA) Legal Symposium in May 2003, Mr. Toporoff provided an update on federal regulatory developments and shared insights about how franchise enforcers go about their work. He also compiled the following list of excuses that he and fellow examiners hear from franchisors and their legal representatives. As Mr. Toporoff observed, "franchise attorneys should know better.
Flight to Quality: Why Business Plans Don't Get Funded
Your business plan is very often the first impression potential investors get about your venture. But even if you have a great product, team, and customers, it could also be the last impression the investor gets if you make any of these avoidable mistakes.
Online
Attorneys litigating suits involving everything from vaccines to the safety of the air on jetliners, or those who simply need scientific information about research and policies, can visit <i>www.national-academies.org</i>, the Web site for the National Academies of Science and Engineering, the Institute of Medicine and the National Research Council. Areas covered on the site include: biology, chemistry, engineering, environmental issues, behavioral and social science, education, health and medicine, and business and economics.
The Latest Threat To E-Commerce : The PanIP Patent Litigation
As if the recent attacks on the tax-exempt status of Internet transactions were not enough for e-commerce vendors to worry about, a new problem has come to light for companies that sell goods or services via an Internet Web site. PanIP, LLC (PanIP), a company based in San Diego, has initiated lawsuits in the U.S. District Court for the Southern District of California against over 50 companies transacting business over their Internet Web sites, alleging that such activity constitutes infringement of two patents owned by PanIP.1 The patents asserted by PanIP are generally directed to "data processing systems designed to facilitate commercial, financial and educational transactions between multimedia terminals"2 and to "a system for filing applications with an institution from a plurality of remote sites, and for automatically processing said applications in response to each applicant's credit rating obtained from a credit reporting service."3
