FCPA Enforcement In A Sarbanes-Oxley World
July 28, 2005
American companies and their officers and employees doing business overseas are learning the hard way about the Foreign Corrupt Practices Act (FCPA). For many years after its enactment in 1977, the government initiated relatively few investigations and enforcement actions charging violations of the Act. This was largely due to the government's difficulties in evidence gathering. Recently, however, the number of such enforcement actions has increased significantly.
Improperly Attempting to Circumvent the Learned Intermediary Doctrine: Challenging the Adequacy of Warnings to Physicians
July 27, 2005
The learned intermediary doctrine is one of the most important doctrines for medical device and pharmaceutical drug defendants in product liability cases because under the doctrine, they are often able to obtain summary judgment on failure to warn claims. (The learned intermediary doctrine has been adopted and recognized in at least 45 states. <i>See Larkin v. Pfizer, Inc.</i>, 153 S.W.3d 758, 767 (Ky. 2005).) The learned intermediary doctrine provides that a manufacturer, designer or distributor of a medical device or pharmaceutical drug does not have a duty to directly warn patients of possible dangers associated with the use of the device or drug. <i>See Presto v. Sandoz Pharm. Corp.</i>, 487 S.E.2d 70 (Ga. Ct. App. 1997). Rather, "'a warning as to possible danger in its use to the prescribing physician is sufficient.'" <i>Id.</i> at 73.
CD: What can client feedback do for you? Client Feedback Program Success Stories
July 27, 2005
>According to recent surveys, only 30% of law firms are currently engaged in client feedback programs. This Web Audio Conference will provide real-life examples of successful client feedback programs. Participants will learn specific strategies from the perspectives of a marketing partner, marketing consultant, CEO of a law related business, and full-time business developer for a major law firm.
Handling the Non-Profit Workout/Bankruptcy
July 27, 2005
On April 15, 2005, one of the largest not-for-profit bankruptcy cases ever filed, <i>In re: The National Benevolent Association of the Christian Church (Disciples of Christ) et al.</i>, (Bankr. W.D. Texas), Case No. 04-50948 (RBK), came to an extraordinary conclusion when the joint plan of reorganization of the Debtors and the Unsecured Creditors' Committee became effective. Under the Plan, all of the Debtors' creditors were paid the full amount of their pre-petition principal and interest, plus a stipulated amount of post-petition interest, together with reimbursement of the full amount of their pre- and post-petition legal fees. After paying their creditors in full on the effective date, the Debtors, a separately constituted arm of the Disciples of Christ Church, retained certain of their assets and will continue their charitable mission. This unusual outcome, in which creditors were paid in full and the Debtors continued certain of their operations, marked the end of a process that began with the Debtors' unsuccessful attempts to negotiate a substantial write-down of their debts outside bankruptcy, was followed by a year-long bankruptcy case in which the Debtors argued that their charitable status and mission should take priority over their bankruptcy law duty to maximize creditor recovery, and was finally resolved when the Debtors were compelled to sell the bulk of their real estate assets in order to fund full payment to creditors.
Scientific Deception
July 06, 2005
Regulators are increasingly becoming concerned about pharmaceutical companies that offer financial and other incentives to physician-researchers, reasoning that the incentives may affect the physicians' judgment when they make treatment decisions for beneficiaries of health care programs. They think that this can result in increased costs being passed on to the federal government. In the worst-case scenario, such incentives could cause medically unnecessary items and services to be provided, and patients to be harmed.
How To Improve Firm Profitability
June 29, 2005
Many lawyers measure their firm's profitability the way a company does ' as a percentage of sales. However, the correct way to measure the profitability of a law firm, whether it is a partnership or a professional corporation, is the net income per equity partner (NI/EP) (or shareholder).
A Primer on Protecting Investments In Motion-Picture Productions
June 29, 2005
If not for the infusion of private capital, many independent films ' generally films produced outside the traditional studio system ' would probably never have been made. That's because banks are unlikely to loan money for such an uncertain and risky venture ' the success of which is greatly dependent on the fickle nature of audiences. But most independent film investors are either unaware of, or pay little attention to, the realities of the theatrical film market. Given the limited potential for widespread independent film success and other inherent investment risks, an entertainment attorney must be diligent and proactive to fully protect a client's film investment.
Cross-Border Disputes and the Potential for Resolution via Mediation
June 29, 2005
The world is rapidly becoming a smaller place in which to do business. And as international borders and boundaries become less of a barrier to business, participants in equipment leasing and finance find their world getting smaller, as well. "Globalization" is now an accepted and well-understood concept in most industries and markets, and it is no longer limited to large multinational corporations or institutions. With suppliers, vendors, and customers in many countries on several continents, all linked through the omnipresent Web and Internet, even small, independent businesses may successfully operate across borders.
Substance over Form in the Bankruptcy Courts
June 29, 2005
Under the Bankruptcy Code, whether a lease is a true lease or a disguised security agreement also has serious consequences. If a lease is a true lease, and the debtor in possession has need of the equipment or other leased property, the lessor is entitled to receive all the payments due under the contract. If a lease is not a true lease but is a disguised security agreement, the lender is only entitled to the lesser of what is owed and the property's value, which could be significantly less than the totality of the lease payments. The balance will be treated as a general unsecured claim. Further, the creditor will only be entitled to the value of the collateral if it perfected its lien. If it did not perfect, its entire claim will be treated as a general secured claim (which is why informational filings of UCC-1 forms are recommended in lease transactions). Even if it did perfect, payment could be delayed until a plan is confirmed and even then stretched out over the length of the plan as opposed to the terms required by the original contract. For these reasons, usually the debtor will argue that the lease is a disguised security agreement, and the creditor will argue that the lease is a true lease.
A Client Perspective On Law Firm Marketing and Sales
June 28, 2005
As the competition for premier legal work continues to stiffen, firms are increasingly forced to change the way they position, promote and sell themselves. Firm leaders and marketing professionals face a daily battle of convincing their professionals that the tactics of 15, 10, even 5 years ago may no longer be relevant. <br>Often, the most persuasive ammunition a marketing agent can possess is the opinion of a client ' someone who is a professional buyer of legal services.
