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In this column, we bring the views and opinions from the client's perspective into focus on issues involving pricing, service, marketing, strategy, differentiation and more. This month, we reached out to Michael Chartock, who has a multi-dimensional lens on these issues. Chartock has been a practicing lawyer in a law firm, a business executive and an in-house lawyer. Today, he is a Senior Managing Director and the General Counsel of Gordon Brothers Group, an advisory, lending and investment firm headquartered in Boston. The company helps growing, mature and distressed businesses manage through strategic change ' the same phenomena we are experiencing as global shifts move in our economy as well as our industry, legal services.
There is no denying that the relationship between in-house and outside counsel has drastically changed over the last seven years. As the economy slowly recovers, purchasers of legal services have new a perspective about pricing and delivery of legal advice. More and more clients are engaging in fixed-fee arrangements, off-the-clock services, and task-based billing. Outside counsel guidelines have become more rigid about what is billable, matter management and billing structures. This has caused many lawyers to believe that there is a strain or level of distrust moving into the relationship between outside counsel and in-house lawyers.
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There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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.
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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.
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.