Financial stability within a law firm practice does not guarantee harmony within the partnership itself. Far from it. Witness the constant present. And law firm management that does not acknowledge or reflect the contributions and needs of its members endangers the firm’s cohesiveness and even its very existence, no matter how many clients come through the front door.

Eddy Beckett & Moore (a hypothetical firm) is at a crossroads. It is no longer the firm that was founded 18 years ago by three partners — Mark, Dean and Randy — who left a larger firm because of the dissatisfaction with a big-firm setting. Today their own firm is run by a management committee comprising the three senior (and founding) partners. The committee determines policy, makes major decisions affecting the firm and sets partner compensation. Partner meetings are held monthly. Agenda and summaries of financial reports are distributed to partners at the meetings.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]