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Guarantee Alternatives to Improve Your Close Rate
If you are providing financing or bonding to small and mid-sized businesses, your firm will likely require personal guarantees from the principals of the client company. For several years prior to the recent recession, credit was easy and it was possible to get deals done without having personal signatures or pledges to back-stop the risk of default ' not today. With rare exception for those businesses with extraordinary financial strength, obtaining credit of almost any type for emerging growth or middle-market businesses, i.e., those from startup through $100 million in sales, will require guarantees by the owners with 20% or more of the equity in a company. At the same time, financing companies are seeing more competitive pressure and a drive to get transactions closed when they find a good client. This logic applies to lease companies, commercial lenders, asset-based lenders, bonding firms and the like.
Developing an Effective Strategy
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
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.