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The Broken Covenant: A Retrospective -- 'Partners for Life'?
For today's young lawyers, that notion belongs to a different era, one that seems as far away as the New Deal and Tammany Hall. But it really wasn't all that long ago that this concept was the anchor of law firm life, a covenant that provided stability and security for the firm's members.
The covenant worked as follows: Join the firm, be a good lawyer, work hard and seven or eight years later you receive the golden handshake welcoming you into the partnership. Thereafter, your compensation would rise in lockstep with your peers, moving inexorably higher as you claimed your rightful place among the firm's senior partners. Of course, there were always the 'worker bees' and the business generators, but the covenant provided that all were to be treated (mostly) equally, borne of a collective notion of common purpose and shared reward. Over the last 30 years, however, this covenant has steadily eroded across firms of all sizes, resulting in a culture that more closely resembles baseball free agency than a 'gentlemanly' profession. This article examines the covenant and several of the factors that led to its demise.
What Broke the Covenant?
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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?