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Planning Realistically In a Time of Economic Distress
How to Avoid Destroying Your Firm's Future By Arbitrary Expense Cutting and Obsolete Planning Techniques
There is a wonderful old Russian folk tale about the family in a sled being chased by ferocious wolves. To slow down the wolves, thinking to protect the remaining family members, they threw children overboard.
That story comes to mind as we watch law firms, chased by the wolves of a depressing economy, decimate their firms by furloughing or firing staff, deferring new hires, cutting salaries, and otherwise taking draconian measures to slash costs and, presumably, to save firms. In too many cases, these actions are precipitous and short sighted, with no view of the future. There is a notion that when economic conditions improve, there will be a large pool of talent waiting to be recalled. Maybe, but not likely. It seems probable that in too many cases, this kind of thinking will reduce once vibrant firms to impotent skeletons in a highly competitive market. For larger firms, pursuing these practices may mean creating firms that of themselves will substantially alter the nature of legal or accounting practice. For the accountants and lawyers jettisoned under these policies, it means living with regret at having wasted all those years, all that education, all those apprenticeships, and all that money, to no fulfillment of promise. If the downturn lasts long enough, it means monumental changes in career plans. And who will be able to wait around waiting for the law firms to recover? What can be done now that anticipates functioning successfully as recovery kicks in?
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?