Guide to Picking a Law Partner
If you are starting your own law firm, it is important to have a law partner who will help you take your practice to new heights. Why have a partner in your law practice? Most of the top law firms in the US and worldwide started with successful partnerships. Consider the following factors when look for a good law partner.
It is important to check the background of your potential partner. Some things that you need to check are the school he attended, his passing the bar, his membership to the American Bar Association, his license to practice law in the state, and any suspension or disbarment. Your screening process starts here.
it is important that you and your partners goals are aligned. If your partnership is going to be successful then there has to be shared goals You need to know why he took law in the first place.
Do you share the same motivations? If you want to know what this looks like, then look at this website.
What are the chosen practice areas of your partner? If you dont practice the same area of law, then his expertise may still complement your own. This information can be discovered when you interview your potential candidates.
You can also look at social media, publications, and other content that he has produced in his space to gain better understanding of your potential partner.
Your personalities should not clash. You should have shared communication. is good to have shared communication with your partner. Effectiveness and communication and the show of professionalism is very important in legal partnerships.
You should also know how he responds to stress, clients, and conflicts. This will tell you if he is the right partner for you or not. Make sure you dont get a partner who is know for social media feuds, outrageous comments or other controversial behaviors.
Get a partner who has experience and referrals to prove it. If he has a LinkedIn profile, check for testimonials there. Reviews from part clients is important to know.
You can then start the process of forming a partnership if you have finally found the right one.
You need to get everything in writing so make sure to draft a legal partnership contract first. You should not write your own contract, though, but let someone who specialize in business law do it for you. There is guidance and templates provided by the American Bar Association for drafting law firm partnership contracts.
There should be a clear explanation of the duties and responsibilities of each partner, in this contract. A managing partner should be designated to oversee committees, develop strategies, manage associates and more.
Your capital contribution should be addressed in your agreement. this will show how much each partner invested in the company.
If you use the tips given above then you will soon find the best law partner.