There is no one business model for a law firm – they come in all sizes and shapes but there are ethical restrictions on who may have equity interests in a law firm. Lynda assists with assuring that whatever structure, affiliation, or ownership a firm selects, the firm complies with the Rules of Professional Conduct requirements in relevant jurisdictions. Lynda’s ethics advice includes:
- Trust Account document and internal control review for affiliated firms
- Assist with of-counsel, contract counsel, and affiliation arrangements between lawyers and law firms
- Prepare office-sharing agreements to comport with carrier and ethics recommendations
- Provide ethics guidance when lawyers leave firms for appropriate transitioning of clients, files, retainers, calendars, contacts, and forms.
- Review of law firm management and compensation structures
- Guide firms going through reorganizations or dissolutions for compliance with applicable jurisdictions’ ethics requirements.
- Counsel on ethics requirements for starting a law firm