The Evolution of Entertainment Law Firms in the Age of the Internet: The Top 7 Industry Trends of 2013

2013 is finally coming to a close. Simply stated, this year has been a year fueled by trends connected to the internet. From the large rise in smartphone users and smartphone apps, to millions of people live-tweeting President Obama's inauguration, to people using the term "hashtag" as an adjective in everyday conversation; these are some of the most notable trends that are influencing the entertainment industry, as well as influencing changes in entertainment law.

1.) MORE LAWYERS HAVE SMARTPHONES THAN EVER

While this may seem a tad bit obvious, as a rise in smartphone use among everyone is actual occurring, one should take into account that lawyers have traditionally been "ahead of the curve" in owning business phones with multiple functions. Back in the day, attorneys were all about their Palm Pilots, which then evolved into the Blackberry. Attorneys were some of Blackberry's biggest fans, and although a small number still remain loyal to the old-school phones, an estimated 55% are now using iPhones.

2.) MORE LAW FIRMS ARE DEVELOPING THEIR OWN SMARTPHONE APPS

Clients do not want to scroll through boring text for hours on end just to find basic information on a law firm. They want to look up a law firm and have a mobile-optimized version of the website readily available. Some of the most important functions that law firm's now offer with their smartphone apps include GPS mapping to their offices, direct communication links, bulletins and current news, lawyer profiles, and video podcasts. Many anticipate even more developments to be made in the app arena, including document templates being made available for purchase, access to client's billing statements and easy bill pay options, and even photo evidence upload.

3.) THE ELECTRONIC COMMUNICATIONS PRIVACY ACT IS FINALLY BEING UPDATED

This law has been in effect since 1986, but in late 2012, the Senate Judiciary Committee voted to update it to include a warrant requirement for the inspection of emails, messages, IMs, PMs, texts, and other digital communications. This bill is expected to go from never being updated to being updated CONSTANTLY as more issues develop concerning one's privacy and electronics.

4.) ENTERTAINMENT COMPANIES ARE CRACKING DOWN ON PIRACY AND CAN ACTUALLY GET YOUR INTERNET CUT OFF

The Center for Copyright Information launched a new campaign aimed at cutting down on piracy this year. Entertainment companies can monitor your bandwidth and search for their own content being pirated on peer-to-peer sharing networks. If they see something is being pirated- they will notify your internet service provider (ISP). The ISP gives you six strikes. You are notified after each violation in writing, and the subscriber can be required to acknowledge the alert/violation, watch an educational video, or the ISP can even suspend your internet service entirely. Long gone are the days where you could download Blink 182's latest album for free, or find a digital copy of American Pie on Limewire to watch with you friends without any repercussions.

5.) COLLEGE FOOTBALL PLAYERS ARE TRADEMARKING IN AN EFFORT TO PROTECT THEIR BRAND

College football is as popular as ever right now, especially in the South. The NCAA, however, prohibits athletes from profiting from merchandise that capitalizes on their name or image. There's always a loophole though- these athletes are getting family members to register trademarks on their behalf, so that as soon as their eligibility expires, they can protect their brand and begin selling merchandise.

Johnny Manziel AKA "Johnny Football" has already had several legal issues arise relating to his family-registered trademark. 

6.) VIDEO GAMES, VIDEO GAMES, VIDEO GAMES

2013 brought us the Playstation 4 and the Xbox One. It also unleashed a ton of hugely successful video hames, such as Call of Duty Black Ops 2 and Grand Theft Auto V. Almost every popular video game requires the licensing of music, trademarks, copyrights, licensing of vehicle and weapon names, and so much more. The amount of intellectual property going into each video game creation and console is tremendous. As the gaming industry increases, so will the legal issues surrounding their products and services.

7.) RECENT COLLEGE GRADUATES ARE MORE EQUIPPED TO DEAL WITH THESE CHANGES

With all of the new laws and new technology, recent college graduates tend to be more equipped to deal with these changes. Most of today's long-practicing attorneys would have to be trained to develop concepts and platforms in order to utilize these trends, which takes valuable time and money away from actual law practice. Younger attorneys who are fresh out of law school, and perhaps hold undergraduate or graduate degrees relating to technology and business, will have an advantage over the older attorneys. Though they still lack litigation and research experience, they now have the ability to very quickly access research, information, and interactive data right at their fingertips. Many also have skills in developing/building websites, social media marketing and branding, and developing smartphone applications. These skills do not have to be taught to a new graduate- they can dive right in and begin offering new, innovative solutions to their clients.

All in all, 2013 has been a progressive year for the booming entertainment industry. Entertainment law will continue to evolve and change as well, allowing a new era of tech-savvy new attorneys to grab a hold of the reigns and speed off towards a successful practice.

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Show Me the Money! Thoughts on Two Major Alternative Funding Websites

Often times, in today's economy, securing an actual bank loan for your small business can be an excruciatingly difficult experience. From the second you walk into your neighborhood Suntrust and try to get an appointment with Brent- the blonde, smiley young loan officer- to the minute you see your spouse frowning at you in disapproval as your only vehicle is inspected by Brent, as you are forced to put up your beloved 2011 Impala as collateral just so you can inch your potential dream a little closer to it's realization- you realized that these "small business loans," if they even happen at all, can be a complete headache, AND a complete heartache.

However, all faith is financial humanity is not yet lost! Many entrepreneurs are turning to more unconventional, newer sources for funding, with some of the most popular, legitimate sources being available right here on the World Wide Web.  Let's take a look at two different websites for some alternative funding opportunities and ideas....

ASSOCIATION FOR ENTERPRISE OPPORTUNITY

http://www.aeoworks.org

STATED MISSION: "Founded in 1991, Association for Enterprise Opportunity (AEO) is the only national membership association committed to microenterprise development as an effective economic development strategy and a powerful poverty alleviation tool. AEO provides its members with a forum, information, and a voice to promote enterprise opportunity for people and communities with limited resources. AEO currently has a membership that stretches across the 50 states, the District of Columbia, and Puerto Rico and includes all key agencies and organizations that provide microenterprise services to disadvantaged microentrepreneurs. The combined reach of these organizations exceeds 300,000 microentrepreneurs and small business owners annually."

SO, WHAT DOES ALL THAT MEAN? Well, it means that the goal or this network is to connect these "MICRO-BUSINESSES" (businesses with five or less employees) to an "MDO" or Micro-business Developing Organization. 

TYPES OF FINANCING OPPORTUNITIES: 1.) Training of members on issues and advocacy techniques 2.) Travel, lodging, and meal expenses that may be required for the training, in Washington 3.) Consultant fees 4.) CASH GRANTS are used to fund the Micro-enterprise Developing Organizations, but not always the small businesses. 

REQUIREMENTS AND QUALIFICATIONS: 1.) Have a small business with less than five employees dedicated to growing your community and creating jobs 2.) Use their website to link up with an in-network MDO 3.) The MDO will tell you more about funding/options.

So, HOW DO THEY ACCOMPLISH THEIR MISSION? The organization uses three main "initiatives," as outlines below, in addition to working on Capitol Hill to advocate policy, as well as data and research. These three main initiatives are:

1.) Catalyst Initiative- Identifying, supporting and piloting opportunities to increase the capacity of micro-enterprise development organizations to accelerate and expand the impact of micro-enterprise in the US.  

2.) Capacity Building in the SouthEast- Increasing the efficiency and effectiveness of advocacy and operations at the state and national levels.

3.) Green Economy- Fostering a network to support members as they capitalize on the "green" opportunity; identifying new "green" opportunities with and for our members and partners.

IN CONCLUSION: If your small business is indeed a micro-business, and you're serving an underprivileged area, it may not hurt to network with AEO and see what their MDO network can suggest in terms of funding, training, and outreach.

OTHER INFO: On this website, visitors may get information on relevant policy issues such as the Affordable Health Care Act, they may view the organization's financial info and tax records fairly openly, and even see a public list of funders. 

NATIONAL COMMUNITY INVESTMENT FUND

http://www.ncif.org

STATED MISSION: Invest capital in institutions that increase access to responsible financial services in underserved communities. Bring capital, knowledge, and opportunities to the industry. Generate reasonable financial, social, and environmental returns.

SO, WHAT DOES THAT MEAN? NCIF gives money mostly to small and minority-owned banks that are planning to increase access and responsible financial products in underserved communities.

TYPES OF FINANCING OPPORTUNITIES: Capital investments.

REQUIREMENTS AND QUALIFICATIONS: The banks must have 1.) Effective leaderships and be organized 2.) Show commitment to providing responsible products and services in underserved communities  3.) Create an expectation of strong financial and social returns for all stakeholders and investors 5.) Create an expectation of providing liquidity to equity investors within a reasonable period of time and 6.) Be aligned with NCIF's mission and willing to work as a mutually reinforcing partner

SO, HOW DO THEY ACCOMPLISH THEIR MISSION? NCIF accomplishes their mission via equity capital, new market tax credits, a small business loan fund, a bond guarantee program, and deposits.

IN CONCLUSION: If your small business is indeed a small bank, this is an excellent possible source of funding.

OTHER INFO: On this website, visitors can search for "Mission-Oriented" banks in their own area, as well as track peer group data and view trends in key financial and social indicators by getting TONS of information about the CDFI Banking Industry in general.

Overall, there are always pros and cons involved when attempting to utilize alternative funding sources and doing things the more traditional way with lending. Be wary of any funding or lending that involves high interest rates, or would be far too difficult to pay back. Bank loans may have a more difficult set of requirements, yet alternative lending often has a much high interest rate. Sometimes, other sources may seem attractive, since they offer "no monthly payments" for a large lump sum of cash, and instead prefer "a fixed daily percentage of daily sales," which in the long run, can be a huge chunk of your revenue.

Knowing and understanding your options and sources for financing are key! Continue to grow and expand your knowledge of finance so that you will not be caught off guard, and your business venture will be sure to expand and evolve along with your mind.

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Applying Expert Advice: Small Firm Business Plan

        Utilizing the advice from business plan experts Jay Turo, CEO of the investment banking firm Growthink, and Dave Lavinksy, President of Growthink, one may incorporate their suggested key business plan components in order to create an impressive, cohesive business proposition that may be presented to potential investors. Specifically, in order to begin a small law firm or solo law practice, one must apply the elements identified by these two industry experts. When preparing my own business plan for my future law firm, I made several major changes after reading Turo and Lavinsky's recommendations.

        The first change I made to my business plan was to make my executive summary two pages, instead of five pages. I realized that summarizing the key points of my business plan in a concise, brief manner would be a more effective way to attract an investor's attention than drawing out the summary in a longer, more detailed manner that may end up boring or distracting the investor from the major key points. The next major change I made was within the "analysis of the competition" section of the plan. Previously, I had highlighted my competition's strengths and weaknesses; however, I did not really differentiate what made my company stand out. After applying the Growthink experts' advice, I have emphasized the differentiators of my company and what it is that makes my law firm unique.

        The most important aspect of any business plan, in my opinion, are the financial statements. These statements break down the company's revenue, assess any needed revenue, determine the start-up costs for the business, lay out the marketing budget, determine the staffing budget, set forth sales projections, and allocate proposed use of funds. I tend to agree with another industry expert, Attorney Fred S. Steingold, who states that the most important element of a business plan is the financial forecast. Before reading Attorney Steingold's suggestion that having strong, specific financial forecast is the key element to securing an investor, I previously felt as though the most important aspect of a business plan was the company analysis, since this element offers a description of the products and services offered, and describes exactly what the idea and concept of the business is. 

      However, as Steingold points out, investors are not going to simply jump at a chance to contribute money toward a novel or sound "idea." A description of services or innovative idea is not going to be sufficient to secure an investment- no matter how detailed, new, or unique it seems. Investors want to see a return on their money, which is why they are mainly concerned with numbers and facts. Having actual sales projections, proof of future income, and financial projections that are backed up with legitimate research and market trends that show proof of what will be driving sales, are what will be most impressive to potential investors. Because of Steingold's words of wisdom, my personal business plan for my small law firm now has a strong financial projection plan, as opposed to simply novel ideas, or vague descriptions of legal services. 

      Thanks to the wealth of knowledge provided by various industry experts such as Jay Turo, Dave Lavinsky, and Fred Steingold, my own small law firm's business plan has improved drastically. Applying the advice of industry experts is highly recommended, one can always learn and evolve by studying other's professional successes, and applying what works for them to one's own personal business endeavors. 

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Industry Experts Share Advice on Business Plans!

GROWTHINK Experts: Jay Turo and Dave Lavinksy

Jay Turo and Dave Lavinsky

Jay Turo and Dave Lavinsky co-founded Growthink, the United State’s largest strategic advisory and investment banking firm.  Their successful financial consulting team has provided critical secured funding for countless businesses and solo projects initiated by self-starters.

               Jay Turo is Growthink’s CEO, specializing in entrepreneurship and private equity investing. He is also a noted angel investor, and contributes a column about various financial subjects to Growthink. Dave Lavinsky is Growthink’s President, and known for his work raising capital, business planning, and with new venture development. He also started Growthink University, an institution that was created to help entrepreneurs learn how to raise capital for their businesses and projects. 

               Both men believe that there are 10 KEY COMPONENTS that investors are looking for in a business plan. These components are as follows, with a brief explanation as to why each piece is important to the overall business plan/scheme:

               1.) Executive Summary- important because it brings the plan together and summarizes the key points of the plan in two to four pages.

               2.) Company Analysis-important because it gives a general idea as to what the company is about, how it is organized, what products/services are offered, and what exactly the company’s unique qualifications are in serving it’s target markets.

               3.) Industry Analysis- important because it breaks down the company’s industry and assesses the market by examining the industry development, successes, failures, and economics.

               4.) Customer Analysis- important because it evaluates those customers that the business serves, and allows a business to identify its target demographic and their needs.

               5.) Analysis of Competition-important because it identifies the businesses competitors and assesses their strengths and weaknesses while highlighting what makes the company better.

*****The first five components are VERY important because they are usually the only things an investor will read. If an investor is not impressed, they will usually stop reading after this point. If they are on the fence, the next five components can potentially secure the deal. *****

               6.) Marketing Plan- important because it explains how business will reach customers and address promotion.

               7.) Operations/Design and Development Plans- important because it focuses on the process for developing the product or executing the service.

               8.) Management Team- important because it states and qualifies the people responsible for the successful execution of the work.

               9.) Financial Plan- important because it breaks down the company’s revenue, assesses needed revenue, proposed use of funds, and expected future earnings.

               10.) Appendix- important because it includes material that supports the business plan, such as financial projections, support letters, industry and competitors reviews, client and customer lists, etc.

LAW Expert: Fred S. Steingold, Esq.

               Mr. Fred S. Steingold is an attorney in Ann Arbor, Michigan, who is also an expert in small business law. He has written several books on writing business plans, finding the ideal business plan to purchase, and selling your business. He also writes a monthly column called “The Legal Advisor,” available through national trade publications.

               While Steingold believes all of the traditional business plan elements are indeed important, the MOST important element is the financial forecast. He claims that a business plan is like a blueprint, and if you leave too many things to chance, or are not too careful when enter into your venture, you may overlook critical factors and potentially doom your project from the start. 

The financial forecasts are even more important for any companies who are seeking start-up capital from outside investors or any loans. Strong financial projections basically tell an investor if your company is worth starting up or not, or if you should re-think some of your foundational business concepts. Obviously, if you need outside funding, then you need strong financial projections- because an investor will not knowingly put money into something that will not give them a substantial return on that investment. You would be hard pressed to find an investor who is willing to take a chance on a "novel or solid idea" for a business without any proof of a financial return.

               Basically, the KEY “key element” is the financial forecasts for Attorney Steingold. You may not be able to see the exact future of your business. But if your predictions are reasonable, feasible, well-calculated, and strong….you could indeed have a winning plan!

               

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Sexy Supermodel Bar Refaeli Wins Lawsuit!

Bar is most well-known for gracing the cover of the 2009 Sports Illustrated Swimsuit Issue.

Today in celebrity lawsuits....Israel's top model, the beautiful Bar Refaeli, made out with a nice 400,000 shekel this Wednesday after winning a civil lawsuit against Suny Electronics for the misappropriation of her image. Suny is owned by Israeli business tycoon Ilan Ben-Dov, and is the agent for Samsung phones and tablets- they had previously employed Bar as a celebrity presenter. In 2006, after a photo shoot, Bar claims that immodest photos were taken without her knowledge and consent, and then used as part of a live internet and theatre broadcast. None of this, she claims, had been specified in her contract. In this lawsuit, Bar demanded NIS 4.4 million in damages for the breach of contract, an invasion of privacy claim, and for damages done to her reputation.

Bar is also known for being ranked #1 on Maxim's Hot 100 list of 2012.

The Tel-Aviv District Court's Judge Avi Zamir, ruled in favor of Refaeli, and agreed that Suny should have clarified in writing how they were going to use her images and photographs. However, he thought that the amount of damages she was requesting was too high. Basically, the good Judge ruled that any model MUST give explicit consent if their private assets (which include their names, bodies, and voices) are to be used for a commercial purpose.

So, Judge Zamir awarded our Bar a hearty sum of NIS 400,000 in damages...and then dismissed a defamation counter lawsuit from Suny that had also been brought for NIS $2 million, which was based on upon Bar allegedly sabotaging their campaign. As usual, sticking up herself and continuing to fight it out...has paid off for Miss Refaeli! This is one of the many reasons fans across the world continue to adore her.

Why do we love her? She's amazing to her fans. She sticks up for equality, animals, and herself. <3

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Breaking Bad Finale- WALT'S MONEY: What would happen to this FAT STACK of cash in real life?

WARNING! The following post containing BREAKING BAD FINALE SPOILERS!

Walt and Skylar used to be in posession of some seriously fat stacks of cash.

Now that Breaking Bad is officially over, we know that Walter White was (hopefully) able to give his last remaining barrel of cash to his son, Walt Jr., aka "Flynn," via a seemingly philanthropic donation from the wealthy "Gray Matter" science duo Gretchen and Elliot Schwartz, in the form a irrevocable trust of around 9 million dollars. If the Schwartz's didn't make this "donation" to Walter Jr, or used any of their own money to cover any fees associated setting up the trust, they were lead to believe they would be killed by "two of the best hitmen on this side of the Mississippi." (Which, as it turns out, were really just two of our favorite goofball junkies with a couple of laser pointers, Badger and Skinny Pete.) 

"Cheer up, beautiful people."

Assuming that Elliot and Gretchen "make things right" and stick to their word, Walt Jr. will indeed get his father's hard earned meth money...but this 9 million dollars is only a small chunk of what Walt actually made during his run as a meth empire overlord. When Uncle Jack, Todd and their gang killed Walt's brother-in-law/DEA Agent Hank Schrader, along with his partner Agent Steven Gomez, Jack and his crew dug up Walt's numerous barrels of cash, and buried the bodies of the two men. When Walter finally shoots up Jack's place for revenge with a homemade, carefully rigged machine-gun apparatus that was hidden in the back os his trunk, it quickly takes everyone out except Todd (who is taken out by Jesse) and Jack- who asks him to "Wait!" as Walt hold a gun up to his head, attempting to appeal to Walt's once prominent greedy nature and asking, "Don't you want to know where the rest of your money is?" Walt promptly shoots Jack dead. Later on, Walter dies....Jesse is finally free, and the money is seemingly in no one's possession.

  

Remember the good old days when Kuby and Huell just rolled around on Walt's money before moving it to safe place?

This begs the question, what would happen to such a large quantity of drug money in real life? Who would this "fat stack," as Badger and Skinny Pete like to say, end up going to? Simply put, a number of things could happen to unclaimed drug money. Most likely, the money would be seized as evidence for a period of time, usually around a year or two, until any trials or discovery would be complete. It must also be proven that the money is indeed drug money, of course, and that this is not just assumed. This can be done looking at numerous factors, such as whether or not the money was found in an unusual hiding place, if the alleged owner of the money or the owner of the property where the money was found has a reasonable explanation for the money/other sources of income, or testing the money for drug residue. 

What's more fun than several barrels of meth money? Nothing. Nothing is more fun.

Lastly, the money would most likely then be handed over to agency which initially seized it, in Walt's case, the DEA- and used toward funding programs in the community, or perhaps given to the families of any victim's associated with the case. This is all determined after a hearing about the funds. In the case of Walter White's money, I would like to think that this particular "fat stack" went toward reimbursing the funeral expenses for ASAC Hank Schrader, Agent Steve Gomez, Andrea (Jesse's girlfriend), Drew Sharpe (the young boy killed by Todd), as well as ten men killed in prison by Jack's ruthless crew, as ordered by Heisenberg, and any other victim's who were harmed. Brock's medical bills and counseling should be covered, for sure...because that kid is going to need some serious help after being poisoned and then presumably finding his mother dead on his doorstep one morning. The rest of the money would likely go into circulation in the Albuquerque area toward programs that promote helping those who suffer from substance abuse and drug addiction. 

So there you have it! This is what would likely happen in real life to Walt's money on Breaking Bad. It's as entertaining as the Vince Gilligan's finale, but it's at least somewhat satisfying to imagine the victims of Heisenberg's "baby blue" getting a piece of that huge cash pie, as well as the lovable "Flynn" getting 9 million as per Walt's wishes. 

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Better Call Saul! Breaking Bad Spin-Off/ Prequel Info!

As of now, Bob Odenkirk will indeed be resuming his role as everyone's favorite entertaining-yet-likable criminal defense attorney with-= questionable ethics, Saul Goodman, from AMC's Emmy-award winning drama "Breaking Bad." The spin-off has been given the green light and will tentatively be titled "Better Call Saul!" The show will focus on Saul's character before he was Walter White's attorney, and show how he developed into the lawyer he eventually became in "Breaking Bad." It is said to be less dark in tone, and more comical, though it is not being described as a "comedy" in itself. Fans are also questioning whether or not any of Saul's employees will return for the spin-off, most notably his bodyguard Huell Babineaux, played by Lavell Crawford, and Patrick Kuby, one of Saul's henchmen, played by comedian Bill Burr. Other characters, such as Jonathan Banks's fan favorite Mike Ermantraut, or the infamous meth distributor and owner of Los Pollos Hermanos chicken restaurants, Gus Fring, could also possibly be worked into a Saul prequel. Chances are, side characters who are important to Saul, but not so much to the story of Walter White or "Breaking Bad," such as Huell and Kuby, are more likely the appear than either Mike or Gus. Either way, it has been a long time since humorous, intelligently written criminal defense show has been on television. Will Bob Odenkirk be the next Ben Matlock? Will you be turning in for "Better Call Saul?"

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