Paper Intake Forms Are 'So Yesterday'
June 27, 2005
Well it's about time. The days of filling out paper forms, and sending them through the office mail to only then have someone re-key them into a computer are gone. Double entry of information and paper forms are a waste of valuable time and money. Some law firms tend to be inefficient, thinking that a little inefficiency helps increase billable hours. We'll save that discussion for another time. Internal staff inefficiency is another story; this is hard cost, non-billable and is definitely money to a partner.
How 7-Eleven Developed a New System-Wide Franchise Agreement
June 27, 2005
In 2004, 7-Eleven, Inc. offered its entire U.S. franchise network a new franchise agreement. More than 96% of the franchisees representing its 3400 franchised stores signed the new agreement. The plans, process, and activities that were a part of this endeavor and the experiences developing and implementing this new agreement offer insight to both franchisors and franchisees when planning system-wide changes and/or new franchise agreements.
The Dangers of Electronic Discovery: Lessons From Morgan Stanley
June 27, 2005
The Morgan Stanley case is the most recent example of the perils that corporate defendants face in the era of electronic discovery. Electronic evidence, and especially e-mail, now plays a starring role in litigation and investigations involving large corporations, particularly in areas such as employment discrimination, fraud and corporate mismanagement. Judges are increasingly familiar with electronic discovery, and are increasingly willing to impose heavy sanctions on corporations who do not comply with electronic discovery requests. As the Morgan Stanley case shows, the consequences of these sanctions can be dire. Therefore, it is important that companies take heed of the lessons of the Morgan Stanley case, and ensure that they have in place a comprehensive and effective system to recover and produce electronically stored documents.
You Just Can't Give it Away
June 27, 2005
Companies in Chapter 11 may have capital structures consisting of multiple tiers of debt and equity that have competing priorities of payment vis-'-vis the company and its assets. The claims and interests of these competing stakeholders may be resolved in a Chapter 11 plan. To emerge from Chapter 11, the company must obtain approval of a plan that deals with all creditor claims and equity interests in accordance with the (sometimes complicated) rules contained in the Bankruptcy Code. In an effort to achieve an agreed-upon Chapter 11 plan, some creditors may give up (or gift) a portion of the recovery to which they would otherwise be entitled to another class of creditors or equity holders.
Retention of Restructuring Professionals
June 27, 2005
Restructuring professionals must be acutely aware of potential conflicts of interest. Indeed, federal courts on occasion have disqualified a professional or ordered the disgorgement of the professional's fees in situations where that professional failed to properly disclose a conflict of interest. The importance of conflicts of interest is especially evident in today's global economy, in which restructuring matters routinely involve many of the same parties.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Important Implications for the Equipment Leasing Industry
June 07, 2005
On April 20, 2005, President Bush signed The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 into law (the "Act"). Although the Act has received much media attention in recent months for its potential impact upon consumers seeking protection under Chapter 7 of the Bankruptcy Code (the "Code"), it does contain a number of amendments to the Code that will affect, either directly or indirectly, the ways in which equipment lessors will relate to their liquidating or reorganizing lessees. This article provides a brief overview of some of the new amendments to the Code and explains how they will change the dynamics between lessors and lessees.
Career Paths for Law Firm Accounting-Financial Professionals
May 26, 2005
This two-part article explores career path opportunities for individuals who have an accounting or finance background and experience working with law firms and attorneys. Part One focuses on opportunities to consult as an external service provider.
Establishing a Dominant Market Share
May 26, 2005
I see a lot of law firm strategic plans that talk about "establishing a position of dominance" or "being preeminent" in an area of practice, an industry or a geographic area. In my mind these are precisely the kind of market-driven, externally focused goals that law firms should be setting for themselves. The obvious question, however, is how does a law firm know whether or not it has created a position of dominance?
Law Firm Business Institute Merges
May 26, 2005
The Law Firm Business Institute, a law-firm consultancy run by A&FP Board member Stephen M. (Pete) Peterson, has merged with certified public accounting firm Maxfield & Co. Headquartered in Grand Junction, CO and serving clients nationally and internationally, the new firm is named Maxfield Peterson, P.C.
Views From the Blawgosphere
May 26, 2005
Web logging is an increasingly popular medium of expression, but many blogs (or "blawgs" as legal blogs are called) offer musings that are not useful or even credible. By contrast, <i>A&FP</i> Board member Ed Poll, long on the forefront of communication technology, provides comments with actual substance at www.lawbizblog.com. Here's a sampler to introduce our readers to Ed's online thinking.
