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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Partnership Agreements for Law Firms 2nd ed

ISBN13: 9781907787638
Previous Edition ISBN: 9781906355425
Published: May 2011
Publisher: Ark Group
Country of Publication: UK
Format: Paperback (114 Pages)
Price: £199.00

Despatched in 4 to 6 days.

This critical report provides the most up-to-date and detailed guide to the practical, regulatory and ethical considerations that must be reflected in your partnership agreement.

Extensively revised, the second edition features new case studies and real-life examples, including a sample agreement precedent and comprehensive updates to reflect how new legal and regulatory developments will affect your deed.

Key subjects covered include:

  • The impact of the Legal Services Act on partnership agreements;
  • Discrimination in partnerships, in particular, age discrimination;
  • Outcomes-focused regulation;
  • New business structures;
  • Distressed partnerships;
  • Current trends in mergers;
  • Profit-sharing arrangements and management structures:
    • The equality system
    • Profit share by capital contribution
    • Seniority (lockstep)
    • Merit or performance systems
    • Hybrid profit sharing systems
    • Retirement annuities
  • Performance measurement, supervision and disciplinary measures;
  • De-equitisation: provisions for expulsion from the partnership;
  • Expulsion, retirement and dissolution;
  • Good faith, arbitration and mediation;
  • Drafting for the future, avoiding early revisions and much more…
  • Ensure you understand the necessary considerations of an agreement that not only fulfils legislative
  • requirement, but ensures the attraction, retention and motivation of the best talent for your firm.

Legal Practice Management
Part One: Tackling the Current Issues in Partnership Agreements
Chapter 1: Partnerships, LLPs and limited companies
Chapter 2: Alternative Business Structures - Outside participation in legal firms
Chapter 3: Attracting new partners - LLPs and partnership
Chapter 4: How is the partnership managed?
Chapter 5: Salaried and junior equity partners
Chapter 6: Discrimination in partnerships.
Resolving the issues in the partnership agreement
Chapter 7: Profit sharing
The equality system
Profit share by capital contribution
Seniority (lockstep)
Merit or performance systems
Hybrid profit-sharing systems
Variables in merit-based systems
Capital-based hybrid systems
Retirement annuities
Retaining profits
Chapter 8: Different categories of partner and new partners
Chapter 9: Additional benefits and provision
The kinds of benefits
Flexible working arrangements
Contents I
Chapter 10: Supervision and disciplinary provisions
Partners' obligations
Compliance with regulatory obligations
Disciplinary measures
Performance measurement
Chapter 11: De-equitisation
Provisions for expulsion from the partnership
Chapter 12: Expulsion, retirement and dissolution
Expulsion...53 Suspension...55 Challenges to expulsion
Retirement...57 Accounting...58 Distribution of shares
Anti-embarrassment clauses
Restriction of competition
Indemnities...61 Dissolution
Chapter 13: Good faith, arbitration and mediation
The duty of good faith
Preventing litigation
Indemnity and compensation
Part Two: Case studies Preface to Case Studies
Case study 1: A defective business plan
Case study 2: Failure to draft for change.
Case study 3: Failure to implement partnership clauses
Case study 4: Failure to notify insurers of claims and circumstances
Appendix 1: A deed of partnership