Ethical Obligations
Law Firm Resolutions for a Happy New Year
Now that your personal New Year’s resolutions are kaput, February is a good time to consider some resolutions for your law practice that will lead to a happier and healthier law firm. Like most resolutions, these are things that you want to do, and probably know that you should do, but may have been avoiding or just haven’t yet gotten done.
Why Your Law Firm Needs a Lawyer
Law firms are full of lawyers, so why would a firm full of lawyers need its own counsel? Lots of reasons, it turns out.
Succession Planning for (Dearly) Departed Partners
Succession planning for your law practice is more than just prudent preparation. It is imperative to protect client interests, is good business, and protects the value of one of your most significant assets.
Looking at Your Firm’s Balance Sheet: Law Firm Clients, and Lawyers, are Not Property
Law firms are not entitled to future profits from the firm’s clients as an ongoing property right, but this does not mean that the law firm can't do anything to protect themselves in the event of a departure.
Is Your Law Firm Prepared for the Next Partner or Group Departure?
While it is a good practice for any law firm to periodically assess its exposure to potential partner departures, the pandemic’s impact on law firms has made this task more important than ever.
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