The effects of the 2009 increase in the unemployment rate continue to be felt in the U.S. Virgin Islands, as the territory struggles to pay back the balance of a federal loan taken out to maintain its ability to pay unemployment benefits and fund related programs. However, some measure of relief is on the way,
“The Finance Issue” (Law Practice Magazine-November/December 2015)
PERSPECTIVES
Building Bridges with Clients in Mind
Our theme in this particular issue is law firm finance. The bridge of law firm finance needs to be constructed with the client in mind. Gone are the days when clients routinely pulled up to the law firm pump and stood idly by while the legal services charges
Leadership-Law Practice Today (December 2015)
From the 1957 inception of the American Bar Association’s Select Committee on the Economics of Law Practice, the predecessor of our Law Practice Division, issues of law practice management have been at the forefront of our mission and programming. In 2015, however, the division leadership expanded on that core area to focus on
What You Need to Know if Investing in Someone Else’s Business
The decision to invest in someone else’s business is not one to be taken lightly. After all, putting up money for a business you might not be involved in on a day-to-day basis carries a certain amount of risk, and most entrepreneurs do not leap into such a situation without putting considerable thought into it.
“Social Media”-Law Practice Today Magazine (November 2015)
Social media has become increasingly popular in the practice of law—not simply for client development, but in the actual substance of the practice. Litigators are researching jurors, and transactional attorneys are using social media for research in mergers and acquisitions. Many attorneys are using social media for continuing education and assisting in reviewing
Law Practice Today Magazine-October 2015
From the Chair of the ABA Law Practice Division-Tom Bolt
This past month, September 2015, the ABA Law Practice Division Executive Committee and staff joined for a team-building exercise during the ABA Section Officers Council Fall Leadership Meeting by attending a cooking school and preparing our own meal.
When you think about it, creating
Is It Time to Seek Venture Capital Funding for Your Startup?
Many entrepreneurs have been there: they have an idea for a business they think could be wildly successful, but they don’t have the financial means to transform the idea into a functioning company. Not surprisingly, this is a frustrating situation—and has likely been the premature undoing of many potentially profitable startups in the U.S. Virgin
Moving Away from a Business Partnership the Right Way
During the course of a business partnership, it’s not at all uncommon for one partner to leave to pursue other opportunities. However, leaving a partnership is not as simple as putting in two weeks’ notice and leaving on your last day, never to return. Rather, the terms under which one partner can leave a partnership
Understanding Commercial Mortgages
For small businesses that are in the market to expand or to take up more permanent residency in a community, purchasing commercial property can be an effective and prudent option. But because most small businesses don’t have the cash on hand to purchase property outright, they need another means of funding the purchase.
This is
Tourist Destinations Could Face Trouble for Unlicensed Music
In an age of iPods and streaming audio, it may seem like the options for pumping music into your restaurant or bar are virtually unlimited. But while everyone loves to hear their favorite tunes during a round of drinks or a dinner out with friends, you’ll find it a lot less enjoyable as a business