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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
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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.
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.
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.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.