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Lack of a Succession Plan Can Lead to the Death of a Law Firm
September first is the unofficial end of summer, the beginning of a new school year in many parts of the United States, and for me, it marked the death of an old friend and client. My client was only 45 years old, in good financial health (2022 was its best year ever) and had a strong partnership, with several future leaders developing among junior partners.
The client had no debt, a favorable rent in a convenient midtown Manhattan building, and a strong reputation in its two main practice areas of real estate and litigation. I had worked with the firm for more than 10 years on a number of engagements.
Projects included recruiting lateral partners, assisting in evaluating two different merger proposals, and developing a partner compensation program. I believe that each of those projects provided the firm with valuable insights, plans, and advice that the firm benefited from.
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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.
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.
Role and Responsibilities of Practice Group Leaders
Ideally, the objective of defining the role and responsibilities of Practice Group Leaders should be to establish just enough structure and accountability within their respective practice group to maximize the economic potential of the firm, while institutionalizing the principles of leadership and teamwork.
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?