Factoring the Web - Webinar

In the last 5 years the internet has created new types of commercial transactions that reside entirely online and do not involve traditional supply chains, such as:

Daily deals (e.g., Groupon, Living Social, Google Offers)

Advertising (e.g., Google AdSense)

Comparison shopping apps (e.g., Digital Folio)

These types of transactions are growing in volume (daily deals alone are expected to reach over $2.5 billion in volume this year) and have characteristics that may make them appropriate for factoring (they often involve deferred payments by credit-worthy account debtors to merchants who don’t typically have sophisticated account management and collection systems and are often in need of liquidity), but they present novel challenges that would require factors interested in pursuing this opportunity to rethink the way they do business.

The purpose of this webinar is to analyze some of these new types of transactions (with a focus on Groupon and the daily deal industry, because Groupon has made a significant amount of information about the company public in connection with its contemplated IPO) and consider the challenges (and rewards) they would present an enterprising factor.

Instructor:

• Michael Clain, Esq. - Partner, Windels, Marx, Lane & Mittendorf LLP
  Michael J. Clain focuses on the structuring, negotiation, and documentation of a variety of credit products, including broadly syndicated loans, asset-based loans, middle market loans, trade and supply-chain finance (including factoring and purchase order facilities), the purchase and sale of individual loans and loan portfolios, and the workout of troubled assets. His clients include money-center and regional banks, foreign banks, investment funds, and finance companies.
  Mr. Clain is a director of the Herman Goldman Foundation; a member of the Executive Committee of the Lincoln Center Business Council; and was formerly Mayor of the Village of Pelham, New York. He is a member of the Business Law and the International Law Sections of the American Bar Association.

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