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Contract Management and the Bottom Line
Vendor contracts, customer agreements, licenses, trademarks, leases, warranties and other contracts represent the most important documents for corporate legal departments. Companies must manage multiple contractual obligations that have continuously grown in number and scope. The globalization of trade and multicurrency business relationships makes contracts even more complex, and with many companies wearing the hats of the supplier, partner and customer simultaneously, the dynamics become ever more convoluted.
The problem for corporate legal departments is that contract lifecycle management (CLM), as currently handled, is manual, slow, inefficient and ineffective. In fact, 57% of legal technology and contract management professionals responding to a Huron Legal poll expressed concern about their company's contract management procedures. The “Huron Legal Contract Management Survey” mirrors the findings of many other studies. See http://tinyurl.com/ncjr5jy.
Many of these otherwise smart and innovative companies have hundreds, if not thousands, of contracts in force. The average Fortune 1000 company has in the range of 20,000 to 40,000 active contracts at any time, according to Forrester Research.
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.