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.
