I just attended the ICSC Law conference in Orlando where I led, along with Maggie Sitko of Sitko Bruno in Pittsburgh, a seminar on letters of intent. Leasing attorneys all appear to be busy and the numbers reflect that as the conference attracted an all-time high attendance. This is what I learned at the conference:
- Consequential damages may not include lost profits in some jurisdictions.
- A party to a letter of intent may have an estoppel claim even though the letter of intent provides it is not binding.
- The marketing gift of choice is a portable phone charger embossed with the firm logo.
- If you provide open bar at night and on-site Starbucks in the morning, every leasing attorney in America will show up to the seminar.
- The leasing law conference includes sessions on ethics. Who would have guessed?
- The restaurant sector is driving development.
- A “license” can really be a lease but it may be a psychological advantage for the landlord/licensor to call it a license anyway.
- A retailer needs liquidated damages for any important lease provision other than maintenance.
- People (not I) actually pay for and eat blood marrow at a restaurant.
The ICSC law conference is always great for content and networking. Already looking forward to next year in Phoenix.