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Live streaming has evolved significantly and is a widespread phenomenon for retail, gaming, and influencers but is now providing competitive advantages for leading accounting, management consulting, and other professional services firms and B-to-B companies looking to build their brands and increase business.
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The legal industry is at an inflection point, grappling with challenges that range from rising client demands to technological disruption. There are five critical areas where firms can take a proactive, strategic approach, including actionable insights and recommendations for navigating 2025 and beyond.
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In an era where skilled professionals are in high demand and hard to find, companies across industries are increasingly turning to outsourcing partners to fill critical roles. The outsourcing landscape has evolved significantly, shifting from a cost-saving measure to a strategic partnership that helps organizations meet their talent acquisition goals.
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Automatic renewals have become a preferred method of goods and service delivery for many businesses, particularly in the context of e-commerce. The patchwork of state and federal laws and regulations makes absolute compliance a difficult proposition for many companies. In a purported effort to provide clarity to companies regarding their compliance obligations in this space, the FTC recently finalized its Rule Concerning Recurring Subscriptions and Other Negative Option Programs. While the Final Rule has reached the last stage of the FTC’s rulemaking process, questions remain.
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On the one hand, Big Law is locked in this endless struggle to compete on metrics: revenue per lawyer; billable hours; realization rates, and of course profit per equity partner. The fact that these are all the wrong metrics to define success is a separate discussion. On the other hand, many of these firms don’t have profitability models. And even those who do, struggle to implement them. This is super-important, so let’s break this down.
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Sooner or later, everyone needs a lawyer. It has been said the average American knows 600 people. You might have done a good job at raising awareness among your friends about how your can help them. Your partner likely knows 600 people too. There is overlap, but plenty of new names. Can they spot a business opportunity and tell your story?
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Office-to-residential conversions present significant challenges to owners and developers that arise from the interrelationship among the regulatory regime, the legal restrictions and requirements of the site and the physical requirements of conversion; the resulting incremental cost of conversions mean that many potential conversions just do not pencil out.
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Creditors of corporate entities will, at various times, pursue the controlling shareholders to satisfy an undercapitalized corporation’s indebtedness. Following along these lines, when it comes to income taxation, it is always important to be able to identify the proper taxpayer. Alter ego concepts may aid in any such determination, i.e., determining whether a corporation that presumably realizes the income should be taxed, or whether the controlling shareholder realized the income and, therefore, should bear the tax liability.
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With Republicans poised to take control of the White House and Congress, the odds are high that key elements of the 2017 Tax Cuts and Jobs Act set to expire at the end of 2025 will in fact be extended — potentially for the better part of the next decade. Still, given the relatively narrow majorities expected in both the House and the Senate, the exact path forward for tax reform and broader federal budget negotiations also includes some unknowns.