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Division of Labor Between Law Firms and Corporate Services Companies

June 16, 2019 By Andrew Abramowitz Leave a Comment

Attorney Productivity | Andrew AbramowitzWhen I am estimating costs for a project for prospective clients, particularly those new to the formation of business entities and deal-doing, a common source of confusion is why there needs to be a fee paid to my law firm as well as to a corporate service company like CT Corporation or CSC. So, I thought it would be useful to briefly outline the different roles that each of us plays in the creation and maintenance of entities.

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Related posts:

  1. The Distinction Between Entity Name and Trademark
  2. Streamlining of Blue Sky Filings
  3. When Clients Demand One Person in a Personal Services Firm

Filed Under: General/Miscellaneous, Legal Practice Advice

Billions and Keeping Control of Your Business

April 24, 2019 By Andrew Abramowitz Leave a Comment

I am very much a member of the target audience of Billions, the Showtime drama about the intersection of law and finance in New York. As a corporate lawyer with the professional background to decipher at least some of the dense jargon, I sometimes have to suspend disbelief at the plot twists, including a U.S. Attorney who doesn’t recuse himself from a criminal investigation of a hedge fund that employs his wife, as well as a coordinated FBI mass arrest of politicians at a funeral service.

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Related posts:

  1. When Clients Demand One Person in a Personal Services Firm
  2. Hollywood’s Nice-Guys-Finish-Last Portrayal of Business
  3. Succeeding in Business by Doing Less

Filed Under: General/Miscellaneous

Should Aspiring Lawyers Take Career Advice from Older Lawyers?

January 31, 2019 By Andrew Abramowitz Leave a Comment

Should Aspiring Lawyers Take Career Advice from Older Lawyers?On Twitter recently, a journalist asked for suggestions from other journalists on what advice one should give to college students looking to pursue that field. The TV critic Emily Nussbaum replied “I tell them not to take advice from anyone over 50, bc the industry has changed so much that our career paths aren’t replicable and our advice doesn’t match the landscape.” Is the same true for established lawyers advising students considering law as a career? (If true, I have about a year and a half left, as of this writing, in which I am capable of providing relevant and useful guidance to the young.)

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Related posts:

  1. Should You Start Your Legal Career at a Big Firm?
  2. Will Lawyers be Replaced by Robots?
  3. Choosing Law as a Career in 2014

Filed Under: General/Miscellaneous

Theranos and Giving Thought to Board Composition

January 4, 2019 By Andrew Abramowitz 1 Comment

Theranos and Giving Thought to Board CompositionOver the holidays, I finally got around to reading Bad Blood, the story of the rise and fall of the blood testing startup Theranos and its founder, Elizabeth Holmes, written by the Wall Street Journal investigative reporter, John Carreyrou, who broke the story that led to the company’s downfall. I cannot recommend the book more highly. However, you’re not here for book reviews, so let’s move on.

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Related posts:

  1. Cleanup Board Resolutions
  2. Links to Some of My Greatest Hits
  3. Succeeding in Business by Doing Less

Filed Under: General/Miscellaneous, Startup Matters

Recognizing and Combatting Strategic Umbrage in Negotiations

November 2, 2018 By Andrew Abramowitz Leave a Comment

Recognizing and Combatting Strategic Umbrage in NegotiationsIn a recent transaction that I worked on – obviously, I can’t give too much detail to protect client confidentiality – I noticed a weird dynamic. In a typical negotiation, when the lawyers from each side are speaking without the principals present, there is some degree of emotional detachment from the ultimate outcome, even though each attorney knows his or her role is to represent the client’s interest. Lawyers will say, for example, that it’s not worth continuing to argue about a particular bone of contention because it is a “business issue” that needs to be worked out by the principals. However, in this transaction, the other attorney, though he was unfailingly polite and even-keeled, would make fairly routine requests from our side seem thoroughly unreasonable, putting me on the defensive.

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Related posts:

  1. Succeeding in Business by Doing Less
  2. A Trend of Not Involving Attorneys in Routine Contract Negotiations
  3. Right and Wrong Ways to Expedite Deal Negotiations

Filed Under: General/Miscellaneous, Legal Practice Advice

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"Andrew Abramowitz, a lawyer in Manhattan who has worked with both buyers and sellers of private placements, said every investor should approach a private placement skeptically." -- Paul Sullivan (New York Times)

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"If the goal [...] is to protect people from losing all of their money in an illiquid investment, the current standard fails on that count, too. Andrew Abramowitz, a lawyer in Manhattan who has worked with both buyers and sellers of private placements, said a better standard might be to limit how much of their net worth people can invest." -- Paul Sullivan (New York Times)

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Ranked #7 nationally issuer legal counsel for total dollars advised in a PIPE transaction. (PrivateRaise.com January 2016)

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