We all dreamed of hanging up our own shingle, and what better way than in a partnership with your buddies? However, when starting a law partnership if you do not get started properly you will only insure that you starve twice as fast. In this course, Gianpaolo Scarola provides guidance on entity formation, managing your office, marketing your firm, finding clients, maximizing resources and choosing the right location.
In addition to all of above, this course covers the most important topic of all: how to choose the right partners. Much like in dating, there are many fish in the sea, but quality life (or law) partners are few and far between. Through examples, Gianpaolo Scarola discusses what to do and most importantly NOT to do (with names changed to protect the innocent and his bank account). He also discusses different methods of profit sharing once you decide that you’ve found your legal soul mates.
I. Weigh the values of a Solo Practice v. Partnership v. Shared Office,
II. Choose the right practice entity (PC, PLLC, PLLP)
III. Balance your budget to manage “must-have costs” for your office
IV. Determine your office space needs and weigh value vs. costs
V. Ask your potential partner the important, determinative questions
VI. Split the pot with your partner, making sure each person gets his fair share
This was the most useful CLE I have taken in the past 2 years.
good, practical course
Great presentation, would have liked to hear more from this speaker.