VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
Issue link: https://www.ifoldsflip.com/i/143435
J U LY 1 5 , 2 0 1 3 / Y O U R b u s i n e s s - t o - b u s i n e s s w e e k ly SPECIAL FOCUS LAWYERS AND THE LEGAL INDUSTRY This month, VEGAS INC highlights attorneys and the Las Vegas Valley's legal community. Selling YOUR business on craigslist: The perks, pitfalls steve marcus WORK ZONE: Construction continues at the site of Linq, between the Quad and the Flamingo. A recent boost in commercial construction and development has been boosting the legal industry as well. Local real estate lawyers say their workload is picking up. Our changing legal landscape By Bethany Barnes staff writer Las Vegas' most lucrative areas of law have fluctuated over time. During Nevada's earliest years, before other municipalities followed suit and loosened their marriage laws, many local attorneys carved out very comfortable livings handling uncontested divorces (Clark Gable and Ria Langham's 1939 split helped Las Vegas eclipse Reno as the nation's divorce capital). As the casino industry took hold of the state, gaming law became the practice du jour. Attorneys cashed in on the growing field, creating niche practices and trying to land work with major gaming companies. With time, however, many casino companies turned to in-house lawyers for counsel, and computers replaced attorneys in handling uncontested divorces. More recently, the sour economy dictated the largest sector of growth in Las Vegas' legal industry. After the economy tanked, firms hired bankruptcy lawyers in spades, said Walt Cannon, an attorney at Olson, Cannon, Gormley, Angulo and Stoberski. Now, with the market showing signs of renewed vigor – new projects are popping up on the Strip and Zappos CEO Tony Hsieh is working hard to revitalize downtown, in large part by funding technology start-ups — it's likely Nevada's legal landscape will see another shift. Intellectual property and see legal, page 14 By Ed Komenda staff writer The last time Joseph Francis sold a beauty salon, he hired a broker and paid a fee. This time, he passed on the broker and enlisted a new partner to help sell his business — Craigslist. A 46-year-old Los Angeles transplant with 25 years experience in the salon business, Francis paid a hefty commission in the early 2000s when he sold a salon. Now, crunched by Southern Nevada's crumbled economy, Francis said he would rather try doing the job himself using the free online listings site. Francis hopes to use money from the sale to open another shop. "I think a lot of people are trying to avoid the commission," Francis said. "Craigslist is free. ... This is a different economic time." But experts caution people against selling businesses through Craigslist. see craigslist, page 16 INSIDE TODAY A SMART PLAN? | P. 7 A look at Nevada's strategy of giving away tax breaks to try to boost business DATA AND RECORDS | P. 20-21 Bankruptcies, bid opportunities, brokered transactions and permits THE LIST | P. 22 Gaming suppliers, by employees Quality, Quick & Convenient Medical Care No appointments are needed and we accept most insurance plans. URGENT CARE 655 S. Green Valley Parkway, Ste 100 | Henderson, NV 89052 | Open 7 days a week 7am to 7pm | 702-431-7337 | www.DoctorsExpressGreenValley.com 20130715_VI01_F.indd 1 7/11/13 2:13:39 PM