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New Fee Models for the New Economy
To remain competitive in the new economy, both inside and outside leasing counsel are exploring and utilizing various alternative fee arrangements (AFAs). Besides the obvious benefits, however, there are also a number of pitfalls to using AFAs that can potentially defeat their upside and turn what should be an arrangement of mutual benefit into a one-sided disaster. This article explores the use of AFAs by leasing counsel, and offers some insight into how they may be more effectively utilized.
Three Views to Consider
There are usually three views to evaluating legal AFAs: inside counsel, outside counsel and the corporate business unit. For leasing companies, the first two views typically involve the inside and outside counsel's perspective. The in-house perspective involves the art of negotiation and anticipating outside counsel's motivation with respect to the proposed alternative fee and the potential economic gain or loss that may be realized by outside counsel. Inside counsel must evaluate at what point the proposed AFA places all the risk on the outside counsel and the possibility of their economic loss in handling its cases, but also, the outside counsel becoming mired in endless, time-consuming litigation that involves the risk of a judgment against the leasing company. Outside counsel's perspective is generally the reverse of the inside counsel's point of view.
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.