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Point: Shootout Between Lawyers and Consultants
Five years ago, professionals who served the business world were actively seeking ways to blend across various professions. Accounting firms practiced law; law firms did consulting; and consultants practiced law. In large measure, the same still holds true today, but each of us is a little more reluctant to step out of his zone of comfort. In the post Enron/ Worldcom/Tyco environment, many professionals are on edge.
For lawyers and accountants, it is easier to define these zones. If your license permits you to engage in the practice, then so be it, regardless of your experience level. For consultants, the task is more difficult. What is the definition of a consultant? Who decides whether a self-professed consultant possesses the basic level of competency to engage in consulting services? To whom is the consultant accountable if he or she makes a mistake? And by what standards will his/her performance be measured should a transaction go bad? While all these questions are relevant for all types of consultants, they are particularly applicable for those specializing in the field of franchising.
Until recently, franchise consultants have been slipping noticeably, but silently, into areas many would view as reserved for licensed attorneys. In particular, I am referring to the preparation of franchise agreements and disclosure statements. Franchise consultants have been preparing these for years, and until recently no one has challenged their license to do so. However, a recent decision from the Northern District of Illinois, Franchise Corp., Inc. v. Siebert (Francorp, Inc. v. Mark Siebert, 2/1 F.Supp. 2d 1051) has brought to center court the question of what constitutes the practice of law in a franchising context.
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?