Practice Management
: Chuck NewtonWhy Not Partnerships?
By Chuck Newton (all)
And, by partnership I mean a grossly legal structure of some kind such as actual partnerships, LLCs, LLPs, PAs, PC, and INCs. You can argue all day long as to whether it needs to be some type of formal partnership or some type of corporate structure, but too often lawyers find that being joined at the hip with some other lawyer rarely works long term.
Sure you can show me examples of partnerships in your community that have lasted decades, but think
of all of them that have fallen by the wayside. Thing of all the internal battles that have taken place. Think of all of the lawsuits, or at least the threat of lawsuits, that have taken place over the breakup of law firms.
You go into partnerships with other lawyers often for the wrong reasons. You like the other person (or did). You want company. You are afraid to strike out completely on your own. You want to feel like someone has your back. You just love the visual of yourself one day sitting at the top of the pyramid that you want to believe your law firm is suppose to eventually represent.
In the long run lawyers, as people, grow, and sink and change their minds or formulate something different than what you want, or they wanted, or money trouble arise, or thoughts and positions just change. But, the point is that you do not need to fall into the trap of trusting that your law partner's goals will always remain in sync with yours. They rarely do.
I would suggest you collaborate where you can if you really want to work together. If he or she wants an office, let him or her get an office. If he or she wants a secretary, let him or her get a secretary. If his or her minds changes and he or she wants to move on from you, let him or her move on. Create a structure that allows for organic collaboration in which people can be what they want to be, and do what they want to do, and in which you can work together when you can, and not work together when you do not want to or are unable without having to bust bank accounts and business structures and feelings to do it.
Let go of the concepts of the traditional law firm. Liberate yourself. Do yourself a favor and do not officially partner.
Full post as published by Chuck Newton on May 13, 2008 (boomark / email).

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