August 20, 2014

Profanity in SEC Filings? Yes, It Happens

Have you ever wanted to swear when drafting disclosure? I have. So exactly when is it acceptable to write f%ck&ng a$$h@le in a prospectus? Perhaps when you are offering shares to raise production funds for a particular type of feature film – see this example from “Lydia Slotnick Unplugged.” Profanity sometimes also appears in the SEC’s administrative proceedings, like this example.

This Bloomberg article notes that the use of profanity in earnings calls varies with economic conditions…

In-House: What You Need to Know Before You Start Negotiating

Tying in the webcast transcript I just posted – see below – this blog has useful information for those going in-house or those already in-house that want a raise. Here’s an excerpt:

They forget one crucial distinction between the law firm and in-house environment. While associates and partners are an integral part of the law firm’s “profit centers” and help generate millions of dollars in revenues on behalf of the firm, when they transition in-house, they become “part of the overhead.” In-house counsels, with very few exceptions in the licensing area, do not generate revenues. At best, they protect a company from liability. Unlike a law firm that sees the hiring of associates and partners as a means to increase productivity and revenues, companies must determine whether hiring an attorney in-house is cost effective, in both the short and long run. The value proposition changes drastically, and therefore, so does the compensation.

While in-house salaries have traditionally been more negotiable than law firm salaries – whether or not the firms operate under a lock-step compensation plan – there are real limits to what can be negotiated. That said, while larger companies may be able to offer more attractive packages – they typically offer little in terms of negotiations. Larger organizations have to worry about setting precedent with other employees. Smaller organizations, on the other hand, may have more flexibility, especially with respect to intangibles.

Transcript: “Career Advice: The In-House Perspective”

We have posted the transcript for the recent webcast: “Career Advice: The In-House Perspective.”

– Broc Romanek