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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Wednesday, March 6, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE course will explore the unique issues facing commercial landlords and tenants of co-working or shared office space. Our panel will compare the agreements between the parties (lease vs. license) and guide counsel on how to most effectively address the risks associated with those differences.

Faculty

Jennifer O. Schiffer
Shareholder
Bean Kinney & Korman, PC

Ms. Schiffer represents various businesses and their owners in matters relating to business counseling and entity formation, purchase and sale of company stock or assets, business contracts, shareholder or membership agreements, disclosure agreements, commercial real estate, commercial property, and leasing transactions. She is also well-versed in business succession planning, estate planning, and estate administration. Ms. Schiffer’s clients range from individuals to a wide array of business entities, including restaurants, medical practices, retailers, builders, limited liability companies, and professional service providers, such as accountants and financial planners.

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John G. Kelly
Shareholder
Bean Kinney & Korman, PC

Mr. Kelly focuses his practice on general corporate law and real property law, including commercial real estate leasing, financing and acquisitions, and business mergers and acquisitions. With respect to leasing, he represents both landlords and tenants nationwide in substantial office, retail, industrial and government leasing transactions. Mr. Kelly serves on the Board of Editors of Commercial Leasing Law & Strategy, a national publication. He has also served as a featured guest on real estate leasing topics on Commercial Real Estate Radio. Mr. Kelly’s lending experience includes representing both lenders and borrowers in complex financial transactions secured by real or personal property, including the negotiation of the initial loan documents and advising with respect to workout strategies and foreclosures.

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Description

The gig economy has helped spur the popularity of distributed workspace in commercial leasing. With some companies offering memberships nationally and globally, this model allows companies of all sizes to accommodate varying staffing needs without the expense of locating, securing, and outfitting office space.

The flexibility of a short-term occupancy agreement, collaborative environment, and turn-key features can hold considerable advantages over traditional commercial leases for early-stage companies, small businesses, and freelancers. Critical to the success of this model, however, is a clear understanding of how it differs from a traditional office lease and the impact of those differences on owners, providers, and end-users.

The principal difference lies in the grant of access to end-users--a license rather than a leasehold. Because the license merely grants a privilege of use rather than creating an estate in the property, the rights and duties between the respective parties shift. A reallocation of the associated risks necessarily follows.

Common issues of transferability and indemnification between the owner, tenant, and end-user must be balanced with terms addressing consent, revocation, and termination of the agreement.

Listen as our panel of experts in real property transactions provides practical guidance on how to best address the issues and balance the interests of each of the parties involved.

Outline

  1. Overview of concept
    1. Agreements between the parties
      1. Owner and tenant
      2. Tenant and end-user
    2. Key provisions
      1. Lease terms
      2. License terms
  2. Interests of the parties
    1. Owner interests
    2. Tenant/provider interests
    3. Licensee/end-user interests
  3. Interplay between agreements

Benefits

The panel will review these and other critical issues:

  • What rights does a company receive as a licensee vs. as a lessee?
  • Can a licensee transfer the right to use a space?
  • Under what circumstances may a license be revoked?
  • Is the tenant's liability different under a license than it would be under a lease?