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In any sizable firm, successful sustainable business development is not reserved for the lone rainmaker or even a lone generation. Client relationships are too valuable to be based solely on one individual, one level of seniority or one age cohort.
The notion of client teams has been around for two decades. Now we are becoming more intentional about the diversity of teams for both business development and service delivery. And increasingly we recognize the inequity and shortsightedness of using associate labor without their visibility, creative input and credit received.
Without giving meaningful and reputation-building opportunities to the younger generations, the best of those individuals will leave for what they perceive as better opportunities. Without developing multi-level relationships with clients, bonds can be fragile. Long-term client relationships are built on much more than the originator doing good work. That's just a basic requirement.
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Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
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