10 Things to Consider When Drafting Law Firm Partnership Agreements

A well-drafted partnership agreement among law firm partners is often the initial step to long-term success.

апреля 08, 2024 at 09:51 AM

By Harold Lewis and Roger Slade | апреля 08, 2024 at 09:51 AM

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Does your law firm have a signed partnership agreement among the partners ? Many law firms do not. Despite the fact that attorneys routinely advise their clients to “get it in writing,” many lawyers do not follow their own advice. The result is often that partners are uncomfortable with how day-to-day decisions are made that can cause significant stress and unhappiness when the time comes to divide money at the end of the year, to promote associates to partnership or to bring in lateral partners.

Here are some items to consider when drafting law firm partnership agreements.

Want to continue reading?
Become an ALM Digital Reader for Free!

Benefits of a Digital Membership

Already have an account? Sign In Now

Click here to access the Public Notices and the Courts sections of the The Daily Business Review in PDF format.

You Might Like

сентября 10, 2024

Former D.C.-Based Orrick Litigator Jumps to King & Spalding’s Miami Office as Partner

4 minute read

августа 27, 2024

Holland & Knight’s Miami Office Reaches 200 Lawyers, Surpassing Its Dallas Office

3 minute read

сентября 11, 2024

Greenberg Traurig Launches São Paulo Office to Boost Expansion in Latin America

4 minute read

сентября 09, 2024

Shutts & Bowen Hires Ousted Miami City Attorney Victoria Méndez

3 minute read

Trending Stories

Law.com Pro

Featured Firms

Law Offices of Gary Martin Hays & Associates P.C. 75 Ponce De Leon Ave NE Ste 101 Atlanta , GA 30308 (470) 294-1674 www.garymartinhays.com Law Offices of Mark E. Salomone 2 Oliver St #608 Boston , MA 02109 (857) 444-6468 www.marksalomone.com Smith & Hassler 1225 N Loop W #525 Houston , TX 77008 (713) 739-1250 www.smithandhassler.com

Presented by BigVoodoo

More From ALM

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

September 18, 2024 - September 19, 2024
Dallas, TX

Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies

September 24, 2024
Chicago, IL

Women, Influence & Power in Law Awards honors women lawyers who have made a remarkable difference in the legal profession.

September 23, 2024 - September 25, 2024
Chicago, IL

WIPL is the original global forum facilitating women-to-women exchange on leadership and legal issues.

Description: Fox Rothschild LLP has an opening in the Miami office for an associate in the Litigation Department. The ideal candidate will h.

Search for the Dean University of the Pacific, McGeorge School of Law The University of the Pacific seeks an exceptional leader to serve as.

Dean of the College of Law Founded in 1898 by the Congregation of the Mission, DePaul University is the nation s largest Catholic institutio.