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How to Build the Law Firm of the Future
In the Greek myth, Scylla and Charybdis were maritime hazards located close enough to each other that avoiding one meant passing too close to the other and falling victim to its dangers. This is not so unlike the increasing number of challenges set before law firm leaders as they try to navigate through what seems to be an increasingly perilous landscape rife with opposing hazards.
It is more expensive to operate a law firm than ever before, but demand and productivity are declining. To compensate and maintain profitability, rates are increasing, but Chief Legal Officers (CLOs) — under tremendous budgetary pressure — have set reducing outside counsel spend, right sizing legal services and cost minimization as top strategic objectives in 2023. See, 2023 ACC CLO Survey.
The vast majority (86%) of lawyers prefer working from home (see, 2023 Thomson Reuters State of the Legal Industry Report); almost half of all junior lawyers may leave a firm for a better WFH policy (see, "Where Does the Legal Profession Go From Here," ABA (Sept. 2022), but leadership fears of loss of firm culture and disengagement are driving an increase in RTO mandates (see, "A Huge Concern: Big Law Leaders Grappling with Attorney Disengagement," The American Lawyer (June 22, 2023). To compensate, firms are now placing an ever-increasing focus on how, where and what their real estate looks like, transforming their office spaces, increasing amenities and luring professionals back in a "flight to quality," but space utilization still hovers around 50%. See, Cushman & Wakefield 2023 Bright Insights.
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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.
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.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
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.