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The Shutdown of the Restaurant Industry: The Widespread Impact
Many communities have been experiencing a growing restaurant scene over the last few years. In fact, recent years have been considered the "golden age" for restaurants. For now, that restaurant scene is virtually non-existent, and it looks nothing like it did six months ago because of the COVID-19 novel coronavirus. Restaurants have lost nearly three times more jobs than any other industry since the beginning of the COVID-19 pandemic. While some restaurants are trying to keep their employees employed and their doors open with take-out only concepts, many have closed their doors, for now.
Restaurants are already fragile businesses, not known for lucrative revenue, but instead known for surviving on tight margins. When the industry reopens to the "new normal," will restaurants be serving at full capacity? What extra expenses will restaurants have to endure to reopen? Will people want to dine in? Will restaurants survive with increased expenses and government-imposed capacity limits? And, if they don't, what other businesses that support restaurants could fail with them?
Financial Relief During the Pandemic
The restaurant industry contributes an estimated 4% of the United States' GDP — or roughly one trillion dollars. As an industry, it is the nation's largest private employer and the third largest employer overall. Since the end of March 2020, 3% of restaurants have permanently closed as a result of COVID-19, according to the National Restaurant Association, the main trade association for the industry. For the other 97%, governments at the local, state and federal levels have put some protections in place over the last few months, which have likely prevented more restaurants from permanently closing.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?