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Feeding the Beast: Improving Time-tracking
After all the sophisticated analysis and strategies are stripped away, the key to a successful law practice often comes down to getting the fundamentals right. Just as the success of a baseball team ultimately depends on the proper execution of “throw, catch and hit,” so too law firms have to facilitate the execution of those processes which are fundamental to the firm's business. The time-tracking process is the one law firm fundamental that has proven to be the most resistant to improvement. Yet, this tradition-bound process can most benefit from a fresh all-inclusive approach.
The Clock is Always Running
Even though the profession is constantly trying to implement better ways to measure value, time remains the basic currency of the legal profession. Billable hours provide a basis for valuing work, justifying fees and compensating the lawyer. Despite the underlying flaw in logic (ie, billing by time actually rewards inefficiency), both law firms and clients still find the billable hour to be the most understandable and common transaction basis for legal services. The method is simple, it encourages effort and it provides a familiar compensation basis when quantifying value is difficult. Internally it provides the easiest overall performance indicator for measuring effort and compensation.
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.
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.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?