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New Normal Will See Shift In How Commercial Real Estate Is Done
Even before the global pandemic landed on our shores 12 months ago, the business model for commercial office space was already seeing deep fissures. While there was a high demand for spaces for companies and teams to work together as we moved through 2019, less of this than one would imagine was for traditional office space.
As to the nature of office leasing demand itself, it has decreased close to 70% from December 2019 to February 2020. It would be naïve to believe that even a majority of that demand will return when workers across the United States return to some form of a new, more permanent normal.
Those who are betting on us all returning to the old way we worked deeply misunderstand how the power is beginning to shift between workers and employers. When it comes to how and where employees work, the current dynamic tension between employers and employees needs to find some kind of equilibrium. Ultimately, but not right away, we are going to find a situation that works better for the majority of employees as well as for the majority of employers.
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COVID-19 and Lease Negotiations: Early Termination Provisions
During the COVID-19 pandemic, some tenants were able to negotiate termination agreements with their landlords. But even though a landlord may agree to terminate a lease to regain control of a defaulting tenant's space without costly and lengthy litigation, typically a defaulting tenant that otherwise has no contractual right to terminate its lease will be in a much weaker bargaining position with respect to the conditions for termination.
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The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
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Authentic Communications Today Increase Success for Value-Driven Clients
As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.