Credit Debt Settlement Act – How New Federal Laws Help You Legally Eliminate Debt

Credit debt settlement act was announced for two reasons: the government did not want their efforts to fail and the government wanted to stabilize the economy with the help of liability settlement. Credit debt settlement act changed the entire environment of the industry. It did not only alter the illegal side; it also altered the legal area of the industry. The effects of this act are:

1. All the legal firms started facing losses as they were not able to continue with illegal work. Huge population of the illegal firms left the industry and those remaining are expected to leave soon.

2. The legal firms which were shadowed due to illegal firms have started to show up. The number of legal firms have increased and the competition to become the best and the most legitimate firm is intense. The consumers are spending less efforts and time on locating legitimate service providers; they are giving more time to look for the best firms in the business. Those who do not have the ability to hire the best are getting legal services.

3. The legal environment was very lazy and ineffective when the act was not passed. Now the legal firms have started working hard and they are producing efficient and effective results. They are trying to get the best deals and they are aware that if they do not work hard and obtain quality results then they will not be paid a penny. They have even started charging low fees in order to get more and more clients. The best in the business have lost their competitive advantage and are working hard. The number of people getting relaxation from liability has increased.

4. Due to changes in the legal environment; the economy and the creditors have benefits. The creditors are recovering money at good speed and they have increased the level of lending. They are making more profits and recovering losses faced due to insolvency.

5. As the lenders have started lending more; the investments in the country have even increased and new businesses have opened up and people are successfully getting employed. People now have a clear mind to make decisions and with their qualitative decisions they are helping the economy.

You should now stop ignoring your liability issues; get them solved by a liability negotiation program and help the country in achieving economic growth. You can aid a lot of people with your positive decisions.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.

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How to Cut Your Organization’s Legal Cost Without Compromise

What is Legal retainer-ship?

In today’s complex legal environment the corporate entities and professionals need to be very careful in all the commercial dealings, communications, agreements and contracts. This is because any communication can be viewed as a contract or not a binding contract by judicial forums in a later stage when litigation reaches courts. These types of communications include appointment letters, suspension letters, removal letters, email communications, statutory notices, reply to notices, warning letters, letters notifying delays, letters expressing disagreements etc., The stakes in every dealing today is also very high. Moreover certain actions have to be taken within a particular time frame otherwise negative inferences can be drawn by the courts in later stages. In such a situation, companies choose to engage a law firm with multi-discipline experience and international exposure to advise them in their day to day legal issues. Such an arrangement helps the companies to get expert advice under one roof in a pre-determined cost for the services what they are going to avail from that firm. Law-Senate law firm is serving many companies on “Annual retainer-ship basis” which helps the companies to get quality legal consultation without worrying about the bills, since the fee is fixed in advance for a year, on the basis of the budgeted work load for all non-litigation work. Later even if the work load increases the determined fee will not be changed within that one year period.

How Law Firm Legal Retainer Ship will facilitate You

There are few facts you must know about Law Senate Legal Retainer Ship, which will clear you why legal retainer ship should be availed:

Un-limited non-litigation legal Service in fixed cost: The Firm agrees on a fixed annual fee for un-limited chamber legal work including consultation, settling of contracts, settling of legal documents, settling of legal communication, labor related documentation, employment related documentation, issuing legal notices, responding to legal notices, arbitration notices, demand notices etc., The Firm has lawyers from various branches of law in its panel and in-house to respond to the consultation requests from the clients on issues arising out of various branches of law. The Firm also allots a dedicated lawyer for ensuring customer friendly communication and effective service. The clients can use email, courier or personal consultation to get their issues resolved. For example in case of settling of legal documentation, the client can email the proposed draft of the document to the firm’s dedicated lawyer. The dedicated lawyer will get the response and comments of the relevant lawyer and inform the client within the pre-fixed time. Hence the specialty of the whole process is the customer friendly, high quality, swift and cost effective administration of the required legal services. The said fixed annual fee is excluding Litigation, arbitration, drafting of contracts and appearance before authorities and tribunals. The above said fixed fee is not uniform for all, it is finalized after estimation of work and the size of the Company.
Litigation & Representation Services in pre-determined fee schedule: The Firm will handle almost all types of litigation, arbitration and appearance before authorities in a predetermined fee schedule on case to case basis. The lawyers of the Firm regularly appear in Supreme Court of India, High courts, Competition Commission of India, Consumer Courts, National Consumer Commission, EPF Appellate Tribunal, Company Law Board, Electricity Tribunal, Mines tribunal, Petroleum tribunal, Civil Courts, Criminal Courts, Central Excise & Tax authorities, Revenue authorities etc., The Firm charges special reduced rates for the clients who engages the firm on annual retainer-ship basis. Hence this arrangement with our firm will help the clients to cut their legal costs.
E-reporting and online storage: It is very difficult for the Companies to get them updated about the pending cases from the old style lawyers. But Law-senate law Firm sends periodical (Weekly/ monthly) reports about the pending cases and matters to each of its client. The Firm also has the facility of e-storage of documents, even in a later stage after many years, the firm can supply copies of the documents from its e-storage points. Since law-senate is a modern law firm with all modern facilities and technology it serves its clients with Zero error quality.

Conventional Legal advice Models:
Earlier Companies used to appoint independent lawyers and pay them separately for consultations, settling legal documents, legal documentation and appearance in various Courts and tribunals. This model gives surprises and financial strain to the Companies since the expenses under legal heads are neither predetermined nor pre-budgeted. Hence the Companies in their endeavor to cut legal costs ended up in low quality and un-professional legal services which resulted in losing of cases etc.,

Appointing in-house counsel or law officers:

To handle above said legal matters some companies choose to appoint their own in-house counsel or law officers. The appointment of in-house counsel or law officers may improve the situation but will not lead to the full solution for the following reasons:

Appointing experienced law officers is very expensive in the current salary market. Hence small, medium companies and professionals can afford only a newly graduated or less experienced in-house counsel. Such a less experienced person may be doing only the co-ordination work between independent lawyers and the company.
Even if experienced people are appointed they will have their expertise in a few fields of law only. Hence they need to consult independent lawyers on the other issues. Independent consultation is again an expensive matter and finding the correct lawyer is a challenging job.

Appointing Independent lawyers as consultants:

Law is a complex field which is growing every day. There are so-many divisions of law and hence no lawyer can claim that he/she is aware of all the divisions of law. More over independent lawyers will not be able to ensure the high quality of service due to limitations in infrastructure, facilities, staff etc.

Advantages of legal retainer-ship:

Even though there are many advantages for the small, medium industries, Professional organisations, hospitals, educational Institutions, NGOs, charitable Institutions etc., in following the legal retainer-ship model than the conventional legal adviser model, the following are the important ones,

Legal advice on multiple legal subjects from experts under one roof
Unlimited non-litigation services
Litigation services on a special fee schedule
Annual customized fixed fee for unlimited consultation and documentation services
Dedicated lawyer for each client
E-document facility
Periodical reporting about the pending matters

Who will be benefited from Legal retainer-ship Model?

Large companies may appoint their own team of experienced in-house counsel supported by law officers and para legal staff in view of their higher volume of legal work. They also engage big size law firms and pay for each service separately because they may not bother about the legal expenditure. But the following types of Companies and Institutions will be greatly benefited by legal retainer-ship model,

Medium and small size companies
Distributing Companies & Agencies
Hospitals
Private educational institutions
Schools & Colleges
FDI partners
BPOs and Call centres
NGOs and charity organisations
Professionals & Consultants etc.,

In short legal retainer ship is helpful for those organizations who are not interested in spending money for legal departments or permanent legal counsel of every practice area of Law. If you have any query about legal retainer ship then you can ask anytime.

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Bringing Legal Into Strategy Development – A New Blue Ocean?

Bringing legal expertise into business strategy development is the natural conclusion of the process which I have advocated of lawyers to becoming more nuanced and practical business advisors.

In fact, all three topics lie along a spectrum, beginning with practicing law better at one end, moving through those business models that deliver low-level legal services with minimal input from mainstream law firms, and arriving at a the other end of the spectrum where lawyers give high value, and value-creating, strategic advice about the direction of a business long before there are any problems to be resolved.

The keepers of the business strategy profession are largely found in the management consulting industry-firms like McKinsey, Bain, and Accenture. Some of these firms developed out of the accounting profession (moving up the value chain into high-level advisory businesses in the same way that I have suggested should apply to the legal profession), and in the world of modern management consulting the legal environment is merely part of the tableau upon which a business strategy is built.

However, there are many situations in which the legal environment is not static but variable, and wherever this is true then legal is a variable that can be managed just like any other business variable. For example, in any case where a firm is involved in litigation which is significant relative to the size of the firm (“bet-the-company” litigation), or in absolute terms, such as Microsoft’s battles with the EU Competition Tribunal, then the legal environment should be considered as part of a business’ overall strategy-how could such a firm development its strategy without talking about the elephant in the room?

Furthermore, there are many fields of law in which the legal environment is fundamental to the business environment of a company:

• Tax
• Contracts
• Intellectual Property-trade marks, patents, copyright
• Competition, including merger review (Anti-Trust in the United States)
• Securities
• Corporate Governance
• Bankruptcy and restructuring
• Consumer Protection, Privacy, and Data Protection
• Product Liability
• Sector-specific regulation-e.g. food, medical & drug, energy, telecoms, transportation, professional services
• Labour and Employment

This means that no business strategy development process can be complete without incorporating legal strategy. However, business schools generally teach very little about the law, and for reasons that we will try to explore in later articles, legal as a function in a company is mostly left out of the strategy development process; the McKinsey Quarterly for example studies neither legal as a function nor professional services as an industry, and a search for “legal strategy” reveals almost nothing.

This is a blue ocean topic that has the potential to create significant competitive advantage. In the world of business academia, it falls into the larger class of “non-market strategies”, and some business schools do now touch on legal strategy in this larger context. However there are very few references or studies available which are focused on the relationship between legal and business strategy. The only text which takes on the topic squarely is Wharton professor Richard Shell’s 2004 Make the Rules or Your Rivals Will, which is full of cases where legal strategy made an impact on business strategy, from the foundation of the Ford Motor Company to Bill Gates’ battles with American anti-trust regulators.

The books is somewhat litigation-centric and begins by roughly recasting Michael Porter’s famous Five Forces model of the competitive environment of business into a model that attempts to predict the result of major litigation by assessing:

(i) the merits of the case,
(ii) resources of the parties,
(iii) public legitimacy of the parties,
(iv) access to decision makers or home turf advantage, and
(v) the strategic position of the parties in the market.

This is fine for what it is, and Shell then goes on and organizes a wide array of the relevant stories he has collected into classes of business strategy moves such as blocking new entrants or locking in customers.

A key goal of this Journal is to develop an analytical framework for this topic which will help to identify which fields are most likely to reveal opportunities for business strategy innovation, when and why.

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How The Legal Environment Can Affect Your Home Business

Legal environment simply means a set of rules and regulations that govern doing business in a given country. These rules and regulations vary from country to country. As home business owner, you need to know how the legal aspects that govern the type of business you are involved in affect you. They may positively or negatively affect your business. How knowledgeable are you about the legal aspects pertaining to starting and running a business in your country?

If you have never bothered to find out about the legal environment in which you operate and how it can impact on your business, it’s important that you try to know how the law affects your business at every stage of its development before it’s too late. And if you intend to start a business, some of the things to give first priority are the legalities involved in running a business in your marketplace. If you are finding it difficult, then I recommend you seek the services of an expert in this area to help you.

In this article, I would like to share with you some of the things to focus on under legal environment, which include the following:

1. The law of ownership

The law of ownership refers to who owns what type of business in a given country. If you want to start a business, you need to learn who owns what and what the law says on the type of business you want to start. The law affects the type of business you want to set up. For instance, in some developing countries particularly, there may be rules that necessitate the local people to own a certain percentage of a foreign business or its subsidiary.

2. Taxation laws

Understanding the legal environment in the area of taxation and how it affects your business is very important to you. Laws are used to encourage or discourage certain activities or businesses. For example, in most countries, there is no tax levied on people who earn income from online home businesses. But if an internet sales tax is introduced in your respective country, probably most affiliate marketers may pull out of business. If not, their earnings may be affected substantially, making it difficult to sustain their online businesses.

In another related example, if the amount of tax levied on, say, agricultural exports is reduced, you may be encouraged to export more products in other countries. Changes in taxation laws can either boost your business or discourage you in the business you are doing.

3. Use of trademarks, copyrights and patents

A trademark can be defined as the legal protection given to a product. It’s a word or set of words, a design which helps to recognize or identify the source of goods of one party from those of others. For instance, if you have been doing business under certain name and brand, you can claim trademark over that name and brand image by registering it. This enables you to prevent competitors from copying your product.

On the other hand, copyrights are meant to protect the intellectual property like writings, discoveries, designs, music and art to mention but a few. While copyrights protect expression of an idea, patents protect the idea itself. The owner of the copyright has exclusive rights to use his works in the way he wants. But ownership of copyrights can be transferred to other people.

Knowing how trademarks, copyrights and patents work is important so that you can legally protect your products and works from being copied. Secondly, it helps you to avoid falling prey to problems you may encounter when you violate these laws.

4. Understanding the minimum standards

As a business owner, you need to know some of the minimum technical standards you should meet when doing your business. For instance, flowers should be fresh before they are accepted where they are exported. That’s a minimum standard. Failure to meet the minimum standards may lead to failure to succeed in business. You should therefore try to find out the minimum stands required to remain in any business you intend to start or you are already doing.

Lastly, knowing the legal environment in which you operate is important and should be given primary attention if you really want to succeed in your business. Get to know what legal aspects affect your business and how to go about the legalities involved in doing business.

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