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Grossman stated that a further £2.65m of 1st Land money was paid to the Cardozas personally, who, he said, argued it was not a loan to them but a "joint venture fee".
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In actions for damages, the client can not make his counsel accountable for malpractice; as it is a common venture, where the fee is dependent upon success, and the lawyer is protected from the betrayal of any agreement by the special law of "privileged communication".
Accounting rules governing the speed of such write-downs are vague, and some venture fund management fees are tied to the values of these assets.
Another card that earns free flights on multiple airlines is Capital One's Venture Rewards card (annual fee $59 after the first year).
A final proposal in the submission is to look at part of the licence fee as "venture capital" that could create a "big bang" in the creative industry.
What Radio 3 does is a great example of using public money – the licence fee – as venture capital to expand and enhance classical and other music and push boundaries in words and sound.
Critics say Elan's practice of setting up joint ventures to take responsibility for developing new drugs, then quickly reclaiming its investment in each venture as a licensing fee, had the effect of recycling the company's own money as revenue.
There are no front-end commissions, but the Nikko/Salomon Smith Barney joint venture charges an annual fee of 0.5% to 2% of the customers' assets, depending on how much money an individual puts into the fund.
This trend extends beyond the new fee-hungry venture capitalists.
A local venture capitalist insisted on fees that Mr. Adams was not willing to pay.
The venture quickly increased port fees by between 40perr cent and 60 percentt for vessels to access the shipping channel.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com