Taking Assignments of Equipment Leases: An Analysis of an Acceptable Documentation Package
December 01, 2003
Like many financial products, equipment leases can be bought and sold. The lease assignment market has become increasingly active and complex in recent years, despite the economic downturn of the early 21st century. This article highlights the type of documentation that should generally be required when a broker or other originator of leases (the "Originator") assigns leases to a funding bank (the "Funder").
Pennie to Close Doors by End of December
December 01, 2003
Intellectual property boutique Pennie & Edmonds will ring in the New Year by closing its doors and firing some of its lawyers and staff. Ahead of a likely announcement of a deal for many ' but not all ' Pennie & Edmonds lawyers to join the New York office of Jones Day, Pennie & Edmonds' management informed associates and staff members Monday that the 190-lawyer firm will cease practicing law and wind up affairs by Dec. 31.
Strategies to Enhance Cash Flow
December 01, 2003
Managing partners, financial partners, members of executive committees and administrators must devote more of their time today, than in the past, to planning and managing their firms' finances and those functions that improve the cash flow. Part One of this article described the first three of six aspects of law firm management and economics that the author has recommended to assist them in improving their firm's cash flow: 1) cash flow; 2) a business plan; 3) budgets for revenues, expenses and client advances. Part Two examines the remaining aspects: 4) partner compensation; 5) a recommended new business and billing committee; and 6) partners' capital and borrowing.
Knowledge Management: Lose the Label and Focus on Clients
December 01, 2003
The label "knowledge management" (KM) means different things to different people. For IT types, it often means technology solutions to the information deluge facing business today - intranet portals, document management and extranets, to name a few. For MBAs, knowledge management implies organizational systems and processes to capture, disseminate and leverage the collective wisdom of a business enterprise. For most lawyers, unfortunately, the words "knowledge management" mean little or nothing. I'm not suggesting that lawyers do not appreciate the competitive imperative to make the most of their firm's collective knowledge and expertise. But the label "knowledge management" does not work well in law firms. It sounds like just so much vague jargon having little to do with real-life client expectations. Since successful KM requires lawyers to buy in and collaborate, the jargon can stand between you and the significant payback that KM has to offer.
Around the Firms
December 01, 2003
Movement among major law firms and corporations.
Avoiding Common Misperceptions and Mistakes in Patent License Agreements
December 01, 2003
Negotiating and drafting the terms of a patent license can be difficult, contentious, and time consuming, especially when the parties are in a hurry to proceed with the broader business venture of which the license is but one part. However, those who decide to skip or skimp on the troublesome details of license drafting will often later face the consequences of a poorly thought-out license relationship — consequences that are significantly more troublesome and costlier than the burden of thoroughly and accurately documenting the intended terms of the relationship at the outset. Even more frustrating is the experience of drafting a license that diligently attempts to address the business or legal issues thought to be important at the outset of the license relationship, only to discover later that a crucial (but possibly latent) problem was overlooked or inadequately addressed.
Recent Attorneys' Fee Awards
November 30, 2003
The chart below summarizes hourly rates used by federal courts throughout New York State in recent attorneys' fees awards made in various types of employment cases. In addition to the name of the case, citation, judge making the award and federal district, the chart shows the name of the firm or other entity receiving the award and the hourly rates awarded to the lead counsel (LC), a partner or principal in the firm (P), associates (A), and paralegals (PL). Hourly rates for travel time are excluded, but ordinarily are awarded at a rate equal to one half the attorneys' awarded hourly rate.
The Marital Estate: Stock Options and Restricted Stock
November 30, 2003
Stock options became a large part of many marital estates involved in marriage dissolution during the "bubble" of the late 1990s. As one would expect, the courts struggled with the issues this new situation presented, primarily what options were to be included in the marital estate.
Pyramid Graphic
November 25, 2003
Full-page graphic of the pyramid marketing system discussed in the Legal Marketplace Branding Roundtable.
