Michael Palermo | Palermo Law Firm

Michael Palermo is a seasoned attorney with over 30 years of experience in employment law, labor law, ERISA, complex commercial litigation, construction law, and regulatory compliance. His career reflects a rare combination of litigation skill, regulatory expertise, and business acumen.

Michael has served in both the public and private sectors, including his role as an Administrative Law Judge for the North Carolina Department of Commerce, where he presided over unemployment appeals and issued legally reasoned decisions. In private practice, he advises mid-sized businesses, high-net-worth individuals, and national companies, providing counsel on business formation, employment contracts, succession planning, and complex commercial disputes. He has also coordinated nationwide chemical injury litigation defense for major manufacturers, navigating intricate regulatory and litigation challenges.

An accomplished legal scholar, Michael has published extensively on topics such as ERISA fiduciary duties, construction bond law, constitutional litigation, and chemical regulatory issues. His articles and book chapters have appeared in respected industry publications including the Defense Research Institute’s For the Defense, Toxic Torts Newsletter, and other professional legal resources.

Michael’s commitment to education extends to his teaching background at John Marshall Law School, where he taught advanced legal writing and research. His ability to distill complex legal principles into practical strategies has made him a trusted resource for legal professionals and business leaders alike.

Through his combination of hands-on legal practice, scholarly contribution, and teaching experience, Michael Palermo offers a depth of insight that benefits attorneys, business executives, and professionals seeking practical, informed guidance in today’s evolving legal landscape.

I. Legal framework of preferential purchase rights | 2:00pm – 2:20pm

• Definitions and distinctions: ROFR, ROFO, and options to purchase
• Current relevance in business ownership transfers and commercial real estate
• Enforceability considerations
• Statute of frauds
• Rule against perpetuities
• Public policy concerns

II. Key structural and drafting elements | 2:20pm – 2:40pm

• Triggering events
• Sale, transfer, refinancing, lease, death of owner, etc
• Importance of specificity and foresight
• Notice requirements and timing
• Effective notice provisions
• Consequences of inadequate or ambiguous notice language
• “Time is of the essence” and strict compliance
• Common timing disputes and their outcomes
• Judicial attitudes toward minor versus material deviations

III. Valuation mechanisms and economic considerations | 2:40pm – 3:00pm

• Fixed price vs. market value vs. formula-based pricing
• Third-party offers and their reliability in valuation
• Role of appraisers, arbitrators, and expert panels
• Drafting around uncertain market conditions and future changes
• Addressing shifts in property condition, zoning, or usage

Break | 3:00pm – 3:10pm

IV. Assignment, transferability, and binding effect | 3:10pm – 3:30pm

• Who holds the right: Individuals, entities, successors, assigns
• Drafting for transferability and anti-assignment clauses
• Binding nature of rights on successors and third-party purchasers
• Recordation of rights and implications for title and due diligence

V. Common pitfalls and disputes | 3:30pm – 3:50pm

• Ambiguous or conflicting terms within the agreement
• Failure to anticipate future transactions or changes in ownership
• Misunderstandings about when the right is triggered or expires
• Case studies of litigated preferential rights—lessons learned

VI. Best practices and risk minimization | 3:50pm – 4:10pm

• Tailored drafting: Avoiding boilerplate and generic language
• Integrating preferential rights into larger transaction documents
• Impact on financing, leasing, development, and title insurance
• Recommendations for practitioners: Checklists, periodic reviews, and red flags to watch
  for