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Financial Education Through Software
Clients should always be a lawyer's first priority. While in the midst of juggling multiple cases, supervising other attorneys and the required reporting that comes along with the practice of law, it's a challenge for many lawyers to find the time to understand the financial side of their practices. At Orrick, Herrington & Sutcliffe, LLP, a 150-year-old global law firm with over 1,000 lawyers and another 1,000 staff, financial education has become a priority. When our lawyers became better equipped to understand the economics of their practices, our firm was able to sustain growth and increase efficiency as well as improve client service across the board.
Our Challenge
Our journey to improve financial education at Orrick began in 2010 when we brought in our current Chief Financial Officer (CFO), who had 30 years of non-law firm business experience and created detailed P&Ls for our practice groups and divisions. In late 2011, after my arrival at Orrick, we realized the technology we were leveraging needed a facelift. With 23 global locations, we were processing massive amounts of data from lawyers, project managers and staff in multiple countries that sit across a variety of industry areas. Our team of financial managers and analysts spent about 70% to 80% of their time trying to just access this data, 20% to 30% on reporting, and very little to no time on data analysis.
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.