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Working Capital Issues for the Law Firm
Part One of a Two-Part Series
Working capital is about cash flow and the cash needs of your law firm. Simply put, it is the cash gap between when your firm pays for something and when the firm receives payment from the client. Ideally, a firm would receive client payment before incurring the costs, creating a negative cash gap situation. At one time Amazon.com worked on a negative cash gap process ' Amazon.com was paid by the consumer, by way of a credit card charge, before it had to pay its vendors for the purchased product and shipping. The law firm equivalent of a negative cash gap is retainers. 'Retail' law firms could also exploit the credit card mechanism exploited by Amazon.com.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.