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Disconnect Between In-House and Outside Counsel
Disconnect between in-house and outside counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked. In fact, I've heard GC's say that if their retained law firms don't care enough or aren't smart enough to ask, they won't volunteer. So what is so important for in-house counsel to communicate?1. What are the commitments you expect the seller/firm to make? Knowledge results in then decisively making those commitments by the firms, or else do not waste your time with a client who wants too much for too little.2. What are your expectations as a buyer interms of rate structure? This knowledge will help the law firms tell the difference between rate-shoppers and, on the other hand, identify in-house lawyers who don't feel secure in a safety bu unless they're certain that your top-end partners will be immersed in the work.3. What are the expectations about winning versus settling? This will help law firms differentiate between in-house counsel that want a firm that actually strategizes or a firm that dutifully files briefs and hopefully wins in court?4. Does the buyer have needs arrayed across a broad spectrum of potential legal services? This knowledge means knowing when a cross-sell will be welcome and when it won't.Ask questions, offer information, make it work for both of you.More on other disconnects next time.
Disconnect between in-house and outside counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked. In fact, I've heard GC's say that if their retained law firms don't care enough or aren't smart enough to ask, they won't volunteer. So what is so important for in-house counsel to communicate?1. What are the commitments you expect the seller/firm to make? Knowledge results in then decisively making those commitments by the firms, or else do not waste your time with a client who wants too much for too little.2. What are your expectations as a buyer interms of rate structure? This knowledge will help the law firms tell the difference between rate-shoppers and, on the other hand, identify in-house lawyers who don't feel secure in a safety bu unless they're certain that your top-end partners will be immersed in the work.3. What are the expectations about winning versus settling? This will help law firms differentiate between in-house counsel that want a firm that actually strategizes or a firm that dutifully files briefs and hopefully wins in court?4. Does the buyer have needs arrayed across a broad spectrum of potential legal services? This knowledge means knowing when a cross-sell will be welcome and when it won't.Ask questions, offer information, make it work for both of you.More on other disconnects next time.
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.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
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.