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The Business Benefits of Leasing When Combatting the Increasing Costs of Operating a Firm
The cost of operating a law firm is becoming more expensive. From increases to associate pay, to rising costs of recruiting, to the additional costs of hybrid operations and increased cyber security needs, there's a variety of reasons as to why overhead expenses have been steadily increasing quartile by quartile, with Q1 of 2023 ending at an 11.7% increase, according to the Citi Law Firm Group Q1 2023 Report.
Even more challenging is that — for most firms outside the top 50 — incoming revenue is not meeting this steady increase in expenses. This year as of the end of Q1 2023, expenses were outpacing revenue by 6.3% across the industry, mainly for firms outside the top 50 firms which reported revenues outpacing expenses through record breaking rate increases, according to the Citi report.
While challenging overall, firms are stable, profitable businesses posting solid profitability projections through the end of 2023 — but not quite breaking the records as was the case in 2020 and 2021. Profitability is important, however, when recruiting high value laterals into the firm, and so protecting every inch of the firm's margin is key — especially when the macroeconomic outlook is volatile with whispers of recession and a heated political environment heading into the fall.
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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?
"Holy Fair Use, Batman": Copyright, Fair Use and the Dark Knight
The copyright for the original versions of Winnie the Pooh and Mickey Mouse have expired. Now, members of the public can create — and are busy creating — their own works based on these beloved characters. Suppose, though, we want to tell stories using Batman for which the copyright does not expire until 2035. We'll review five hypothetical works inspired by the original Batman comic and analyze them under fair use.