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Peer-to-Peer Networks
A widely repeated story concerns a man (let's call him Henry) who, on the recommendation of a friend, decided to list on an obscure apartment-sharing website called “Airbed and Breakfast” a very elaborate treehouse he originally built for his then off-to-college son. Today, Henry's treehouse is one of the more popular destinations on a marketplace that boasts over 250,000 properties in 192 countries (there is often a seven-week waiting list for the treehouse). In fact, Henry has since paid off the mortgage on his real house through the proceeds garnered through the Airbed and Breakfast site at www.Airbnb.com.
Airbnb is today a $10B company riding the wave of collaborative consumption, a closet industry that is the modern manifestation of traditional barter marketplaces. By tapping into the inherent efficiency of today's increasingly connected world, peer-to-peer collaborative consumption threatens to shake the pillars of traditional and institutional marketplaces and exchanges such as financial markets (peer-to-peer lending), automotive dealers (peer-to-peer car-sharing), and transportation (peer-to-peer ride-sharing such as lyft.com or uber.com).
Peer-to-peer e-commerce platforms seem to be popping up almost daily, touching nearly every vertical ripe for disruption, or at least providing just a little grease for the wheel. These software-augmented approaches to the simplest of individual bartering work on the principles of search and discovery, trust, payment and transparency. They eliminate waste and quickly create value on both sides by tapping into what's commonly referred to as “idling capacity.” This idling capacity, when discoverable ' and monetizeable ' has already built exchanges of significant value seemingly out of thin air (As mentioned above, Airbnb is valued at $10B; uber.com is valued at $3.5B; LendingClub.com is valued at $3.8B). To those of us in the commercial real estate industry, and the occupiers who spend a significant portion of their hard-earned revenue paying rent, the question is, could a peer-to-peer marketplace ever make our business more efficient, much less deliver eye-catching value to both landlords and tenants alike? We think the answer is yes.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
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.