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Starting From Scratch
The number of new law firms formed by partners that have split off from existing firms is on the rise. As such, these partners, who may never have been involved in technology decisions at their previous firms, have to start from scratch in order to implement the computer systems, e-mail systems, financial and practice management software needed to conduct business.
In the case of Buckley Kolar, LLP, five partners at a large national law firm decided to break off and form a new practice in the Washington, DC, area. The practice would serve a national client base and specialize in the financial services industry. In the last quarter of 2003, I was contacted by the CPA representing the partners to set up the soon-to-be-formed firm. As an accountant and independent consultant, I was tasked with managing the entire set-up process for this 20-attorney firm. The technology selections, including our computer network, e-mail, financial and practice management systems were the most significant from both budgetary and complexity standpoints. The goal was to have the office functional within 90 days so that the attorneys could walk right in and begin billing from day one. The first step was to create budget and cash flow projections before any technology decisions were made.
As a general rule of thumb, a start-up firm must be able to finance security and other deposits, capital items and approximately 3 months of operating costs.
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?