Law Firms

A lawyer is the most controversial profession a person can pick. Most people label lawyers as snakes, liars, cheaters, etc… Law firms are setup in different ways depending the are of law in which a lawyer is practicing. Sole proprietorship’s are law firms in which the attorney is the only one taking cases and practicing in the office. He/ she also is in charge of the business and responsible for all profit, loss, and liability the firm may acquire. A general proprietorship is a law firm that shares all cases and responsibility between whatever number of lawyers are practicing under the firms name. In these cases a specific lawyer may actually own the firm and hire some others to join the team, or all the lawyers may own a share of a firm. Professional corporations are law firms that offer shares of stock in addition to salary and in exchange for a lawyers work. A limited liability company is when a firm has members in it that do not directly have any say or power within the firm. Lawyers work in law firms like this usually to get their feet wet and explore out a sector of law. Additionally, not all lawyers want their own practice and would rather just work under a firm that belongs to another attorney. A professional corporation is a law firm similar to that of a limited liability company. A limited liability partnership is a law firm that is owned by two partners. This type of firm is unique in that both partners are only responsible for what they do not for each other. Also, these law firms are taxed like a partnership, but treated like a corporation. By law most lawyers must appoint a manager or director of the office to implement some sort of checks and balances. Law firms are typically organized around partners, who are dual owners and business directors of the legal operation; associates, who are employees of the firm with the prospect of becoming partners; and a variety of staff employees, providing paralegal, clerical, and other support services. An associate may have to wait as long as nine years before the decision is made as to whether the associate makes partner. It is rare for a partner to be forced out by fellow partners, although that can happen if the partner commits a crime or malpractice, experiences disruptive mental illness, or is not contributing to the firm’s overall profitability. However, some large firms have written into their partnership agreement a forced retirement age for partners. This age can be anywhere from age sixty five on up. In contrast, most corporate executives are at much higher risk of being fired, even when the underlying cause is not directly their fault, such as a drop in the company’s stock price.

People hate lawyers and everything they stand for, until they need them. As soon as a person needs legal help and or advice, they begin to love lawyers, and understand what it is that they do. Law firms all across the country work daily to protect and serve the people of different communities on a variety of different issues. A law firm is a business that is formed by one or more lawyers to engage in the practice of law. The primary purpose of law firms is to advice clients on the legal rights and responsibilities they have. Additionally, lawyers will represent clients on civil an criminal cases, as well as draft up and contracts they may need for business transactions and other legal matters.