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57 Prac. Law. 3 (2011)

handle is hein.ali/praclaw0057 and id is 1 raw text is: The Practical Lawyer Deciphering Due Diligence: Tackling Software And IT Issues That Can Cripple M&A And Other Corporate Transactions Jason Haislmaier 19 Information technology is frequently at the heart of an M&A transaction and the buyer and target bring different perspec- tives to the matter. The buyer will typically be interested in es- tablishing a dean 'bill of health regarding the software, infor- mation technology (IT) systems, and other technology relevant to the transaction. The target, on the other hand, is typically focused on bringing certainty to the transaction and tighten- ing down on open-ended liability obligations. Due diligence can be a challenge in this environment. In this article, Jason Haislmaier discusses the preliminary considerations (trans- action structure and identifying and locating key diligence resources), the areas of IT due diligence focus, and additional areas for consideration. Surviving Your First Ten Years As A Lawyer Matthew DeVries 33 it's no secret that establishing an admirable professional repu- tation as an attorney takes a lot of work. For many young at- torneys, though, even hard work doesn't always prevail against the pressures and difficulties that can arise in the first 10 years of practice. In this article, Matthew DeVries discusses what an attorney can do to grow and prosper during this critical period: finding and pursuing a professional passion, seeking out men- tors, prioritizing the endless demands on time, and expecting (and welcoming) change. The Internal Revenue Service Correction Pro- gram For Tax-Qualified Retirement Plans Emily W. Mao and Anna M. Grant 39 The tax rules applicable to retirement plans become more com- plex each year, and even the most diligent plan sponsor will discover mistakes in the administration of its retirement plans. Recognizing this, the Internal Revenue Service has developed the Employee Plans Compliance Resolution System (EPCRS), a correction program that allows plan sponsors to seif-correct many of the most common mistakes that occur in retirement plan administration. This article by Emily W. Mao and Anna M. Grant outlines the provisions of EPCRS and is intended to provide guidance for in-house attorneys who do not regularly practice in the area of employee benefits. volume 57 1 number 1 1 february 2011 Submitting Claims And Cooperating With Insur- ers Peter D. Laun 59 When the time comes to submit an insurance claim, the in- sured might find itself unsure exactly what to do. This can be a risky situation, because mistakes at this stage can jeopardize the claim. In this article, Peter D. Laun discusses the impor- tance of prompt notice, notice for claims-made policies, pro- viding information about the claim, the insurer's selection or approval of counsel, the insurer's control over settlement, and what the policyholder should do after a loss or claim. The Grammatical Lawyer - Back To The Basics From A Historical Perspective (Part 2) by Michael G. Walsh 5 The Law of the Lawyer - Cutting Costs Without Crossing The Line by John B. Spitzer 9 The Web-Wise Lawyer - All That Glitters (Part 2): The Gold Frenzy Continues by Professor Frank J. Cavaliere 13 Practical Success - How Can Your Friends Become Your Clients? by Cordell M. Parvin 17 To purchase the online version of this issue, go to _www.ali-aba ora and click on Publications' Back issues, individual articles, and forms are also available there.

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