A partner who will help your practice soar to new heights is someone you would need if you are starting your own practice. Why have a partner in your law practice? Most of the top law firms in the US and worldwide started with successful partnerships. There are several factors that you need to consider when looking for a good partnership.
It is important to check the background of your potential partner. You need to check what school he attended, if he passed the bar, if he is a member of the American Bar Association, if he has license to practice law in the state, and if he was ever suspended or disbarred. This is the first phase of your screening process.
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 can find this out by asking what drove him towards law.
It is important to have the same motivations. If you want to know what this looks like, then look at this website.
You should know what practice areas your potential partner has chosen. Even if you dont share the same area of practice, 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.
His response to stress, clients, and conflicts is important to know. This will tell you if he is the right partner for you or not. Your potential partner should not be known as someone who creates social media feuds, outrageous comments or other controversial behaviors.
Make sure your potential partner has experience and referrals to prove it. Check the testimonials in is LinkedIn profile. You should also read reviews from his past clients.
When you have finally found the right one, then you can start the process of forming a partnership.
It is important that everything is written down by drafting a legal partnership contract. You should not write your own contract, though, but let someone who specialize in business law do it for you. Drafting law firm partnership contracts is fairly easy since there is guidance and templates provided by the American Bar association.
There should be a clear explanation of the duties and responsibilities of each partner, in this contract. The person who will oversee committees, develop strategies, manage associates and more, is designated managing partner.
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.