The withdrawal of a partner or group of partners from a law firm, all too often, results in a dispute, which is inevitably costly, contentious, and bitter. Lawyers fighting lawyers is not good for the combatants and is worse for the profession and our clients. Despite this, these disputes continue to proliferate and show no sign of disappearing.
Given this unfortunate state of affairs, comprehensive law firm partnership agreements should include dispute resolution clauses to streamline the dispute resolution process. While many law firm partnership agreements contain arbitration provisions, these provisions are often just the basic “pro forma” clauses, which enable the commencement of arbitration but do little more. Given that partnership agreements provide for maximum flexibility, which permit partners to craft virtually any economic relationship they want, the dispute resolution clause of a law firm agreement can be configured with little restraint and should be thought of and used as a tool to make the resolution process efficient and fair.
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