On Demand Audio

Starting and Managing a Law Practice in New Jersey

(214 reviews)

Produced on November 06, 2017

Taught by
$ 89 Ethics, Business, Corporate, & Securities Law, and Law Practice Management In Stock
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Course Information

Course Description

So you graduated from law school and took a job with a law firm where you have worked for one, two, five, or ten years. Then one morning you wake up and realize that you no longer want to work for someone else, so you start thinking about hanging out a shingle and starting your own law practice. Do you know where to begin?

This program, taught by Ben Folkman, the Managing Partner of Folkman Law Offices, will walk you through everything you need to know and consider before you go out on your own. From decisions about location and insurance concerns, to the initial financial hurdles you need to clear and developing a client base, Mr. Folkman will cover the legal, practical, and business concerns you may not even have considered - such as whether your significant other will support the ups and downs that come with managing your own practice.


Learning Objectives:

  1. Decide whether to incorporate as an LLC, PC, or Sole Proprietorship, register with the state, identify the geographic and practice areas you want to cover, and create a website for your firm
  2. Choose a location for your practice and discuss the pros and cons of buying or leasing office space, furniture, and equipment, with reference to the optimal physical layout of your office
  3. Understand how to disassociate from your former employer, ethically notify your clients, transfer files, obtain Substitutions of Counsel, and handle any conflicts of interest that may arise in the future
  4. Obtain Malpractice Insurance and understand best practices for ethical fee agreements
  5. Navigate attorney advertising rules in New Jersey, recognizing the pitfalls that may trip up new practitioners, and identify an optimal advertising budget and strategy that effectively markets to your target client base
  6. Assess your financial situation, including the availability of credit, whether you will be able to maintain enough business to sustain your practice, and how to manage finances in the inevitable downtimes
  7. Discuss staffing considerations, including providing health insurance for yourself and your employees, paying into Workers’ Compensation funds, and creating an employee manual


Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .

Faculty

Benjamin Folkman

Folkman Law Offices P.C.

Ben Folkman opened Folkman Law Offices, P.C. in October of 1998. He is admitted to practice in New Jersey, Pennsylvania, the District of Columbia, New York, Vermont, Arizona and Colorado, and before the United States District Court for the District of New Jersey, the Eastern District of Pennsylvania, the District of Colorado, the District of Vermont and the Southern District of New York, as well as before the United States Court of Appeals for the First, Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth, Tenth, Eleventh, Federal and District of Columbia Circuits, and the United States Supreme Court. Ben is highly accessible to clients and prides himself on working diligently to make sure that each and every one of their needs is met.

Ben is a highly experienced litigator. He has been certified by the Supreme Court of New Jersey as a Certified Civil Trial Attorney and by the National Board of Trial Advocacy as a Board-Certified Trial Advocate.

Ben’s $100 million verdict was listed by the NJ Law Journal as the largest personal injury verdict for New Jersey in 2009.

Ben was named, by his peers, New Jersey Super Lawyer for the last twelve years running and Top Lawyer in SJ Magazine for the last eleven years.



Reviews

DS
Deenah S.

Informative and easy to understand.

JT
Jeffrey Thorn T.

This was, practically speaking, very helpful.

DR
Desiree R.

Exceptional course. Highly recommend for anyone thinking of going into private practice.

SS
Sweekrutha S.

I have been practicing for 7 years, 3 of which was on my own — and this was definitely an informative discussion on NJ practice.

SV
Sonia V.

Extremely practical information - although it's making me reconsider going solo.

JG
Jonathan G.

Good information

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