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Developing a Partner Scorecard That Is Meaningful to Your Firm
This article is the first in a series about developing a customized scorecard for your firm's partners, specific information to include in the scorecard, tailoring it to your firm's goals, and getting partners to understand the scorecard and achieve greater success. Following are some questions about partner behavior and profitability with which many law firms grapple: How do you want your partners to behave? Is their work ethic up to your standards? How do you modify behavior? What firm goals that will drive profitability? What are the key financial metrics against which goals are compared? What training do partners need to understand the financials goals and metrics? What data does your firm track by partner? How are partners held accountable for profitability performance? Developing a partner scorecard customized to your firm's style may help address these issues and improve overall performance.
What Is a Partner Scorecard?
A partner scorecard is exactly what it sounds like. It is a card that keeps score on various elements of performance for a partner. The types of scores that would be kept will be discussed at a later point. An important element of a scorecard system is to make the scorecard a concise, tangible card, bigger than an index card or a piece of paper. The reason for this is simplicity. The score can be viewed and understood in a flash. Picture a golf game scorecard. It is on one page, simple, and easy to understand. You know your score. And you remember it.
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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 Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.