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Equipment Leasing as a Current Financing Strategy for Middle Market Companies
Equipment leasing remains a viable tool for middle market companies in today's environment. The Equipment Leasing Association of America (the “ELA”) estimates that of the $668 billion spent by U.S. business on productive assets in 2003, $208 billion, or 31.1%, was acquired through leasing, and for 2004 the ELA projects that leasing activity will grow to $218 billion, or 30.7 cents of every dollar American businesses will invest in equipment.
The leasing industry has a history of employing product and market strategies that meet changing customer needs and economic realities. As a result of these actions, the industry has established a relatively consistent market-penetration range ' 28% to 32% of annual business investment in equipment ( See Table 1, below), from which the industry's recent and anticipated performance has not deviated. While it is true that lease pricing will increase with the expiration of bonus depreciation, and accounting regulations may impose new rules that impact the financial reporting of lease obligations, many of the historical motivations to lease will remain, and new economic and environmental factors will drive the offering. This article will review some of the primary reasons why leasing has served as a relevant financing strategy through multiple business cycles and in light of changing customer needs. Moreover, we will identify some specific reasons why leasing will continue to serve as a valuable financing strategy for U.S. business: both middle market companies and larger companies, alike.
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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?