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Profitability Levers: The Lore and Lure of the RULES
The importance of profitability levers is compelling, but readers who sense some haziness about the subject should note that different authors conceptualize the levers differently.
In just this edition of A&FP, the Altonji-Chow article alludes to “the five key levers of profitability.” The Steinberg article posits and describes five “underlying factors that affect profitability.” They're not the same five levers, though. Both lists include realization, utilization and leverage. Altonji and Chow list price (rates) and cost structure as their fourth and fifth levers. Steinberg approximately combines those two into a lever he calls production, and adds speed (of collection) as his fifth lever.
Readers of the PriceWaterhouse-authored text Law Firm Accounting and Financial Management (published by our very own Law Journal Press) will likely recall the similar “RULES” factors defined in LFAFM '9.04. RULES stands for realization of billing rates, utilization of attorneys, leverage of lawyers, expense control, and speed of billing and collection.
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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.
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
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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?