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<b>Corner Office: </b>Who's Running The Store?
To understand why many managing partners might have difficulty answering this question, one needs to examine the resource pool within law firms from which managing partners are chosen. Among the popular choices are: those with the biggest books of business, the most widely recognized reputations, the best rainmakers, the best lawyers and the most effective client service partners. Most partners feel that anyone who has attained any of those levels practicing law ought to be just as proficient at running a law firm. Not quite!
Many years ago, I met with a senior partner of a troubled major Wall Street firm who had recently been elected its managing partner. I asked how he got selected and what he felt qualified him for his new job. He paused thoughtfully and said: 'I really don't have any qualifications other than I'm the only one to whom all the partners speak.' Sadly, within 3 years this once venerable firm closed its doors and dissolved.
Usually, partners who have the most value to the firm as practicing lawyers are plucked, at the peaks of their careers, from doing what they are best at to run the firm. Seldom do they have any management skills or training to run a business, let alone one as complicated as a law practice.
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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?