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Admitting New Partners and Classes of Partners As the Demand for Legal Services Continues to Lag
A new survey of law firm leaders reveals that partners at a majority of the firms don't have enough work, and that demand for legal services is lagging behind pre-recession levels. Yet, despite this gloomy assessment, law firm leaders report that their partners are resistant to change.
Unfortunately, there is no conventional wisdom about when the current lag will turn around. As a result, these uncertain times have served as an excuse for many firms of all sizes and specialties to review the breadth and depth of the profitability (costliness) and expertise of their lawyers in various practice areas, and seek to recruit attorneys who control work of clients in practice areas that are strategically important.
Since the objective of admitting partners in a law firm is to generate profits for equity partners, more firms are examining the wisdom of creating new partners and are ascertaining the timeliness of addressing problems with under-productive partners, i.e. , reduced compensation, de-equitization, early retirement, etc.
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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.