LAW FIRM START-UP
We counsel and advise new partners, groups, and other attorneys starting new law firms or opening new California offices on how to analyze and comply with the applicable governing rules and regulations for opening a California law firm and how to plan for their future success. We counsel and advise start-up law firms on entity structure considerations, partnership agreements and other organizing documents, State Bar registration requirements, start-up planning and operational considerations, and law firm compensation structures.
LAW FIRM COMPENSATION SYSTEMS
We counsel and advise California law firms on developing and implementing law firm compensation systems for partners. One of the most critical aspects of law firm management is how the firm’s profits are divided among the partners. For most California law firms, because partner practices can differ in significant ways—different fee structures, different receivables, different expense loads, different staffing requirements, different business cycles—law firms need partner compensation systems that are flexible, dynamic, and fair, tailored to all partners’ practices and designed to generate an equitable division of firm profits, year after year, whatever the changes the firm may experience.
LAW FIRM ATTORNEY PROMOTION SYSTEMS
We counsel and advise California law firms on developing and implementing attorney promotion systems for associates, counsel, and other attorneys at the firm. A critical aspect of growth for any law firm is to train and to elevate attorneys into the partnership, with corresponding compensation plans for promotion. A properly-developed and implemented attorney promotion system will be a competitive advantage for your firm, aiding in the retention and the recruitment of talented attorneys.
LAW FIRM SUCCESSION PLANNING
We counsel and advise California Law Firms and lawyers on how to engage in, and consider, succession planning as a good business strategy and client protective measure. If done properly, it can provide a way to gradually transition client work and management roles away from aging and soon-to-be retiring lawyers over a period of time to preserve long term client relationships and to create opportunities for emerging talent and an orderly transition of new leadership. Succession planning includes developing and implementing partner retirement systems that make sense to all partners and are viable to support the long-term success of the firm. We also counsel firms in analyzing whether the firm has sufficient policies and procedures in place to protect clients in the event any particular lawyer at the firm becomes unable to continue practicing law.