Equity Partners/Shareholders (Law)

What days is your firm "closed" for the Holidays?

As an associate, it was considered a treat to have a 1/2 day on 12-24 and 12-31.

We are closed 12-23 and 12-26 this year, closing at Noon on 12-30, but op… more

Smaller Firm Question - how long do you give associates to start making a profit (i.e. doing sufficient billable time that is collectible) before you begin with warnings or termination?

Scenario: 1 Senior associ… more

When an equity partner retires, how do your firms structure the buy-out of the retiring partner’s interest? Is it a substantive buyout or a nominal amount? If nominal, doesn’t this just incentivize th… more

We have a firm incorporated in one state and intend to open an office in another. Do firms typically create a new entity for this purpose, or do they just register as a foreign business?

I have a small firm and am contemplating acquiring a practice from a retiring attorney. The plan would be to bring him into the firm for a year or two first to transition the clients. Is there a stand… more

It's bonus time. For those not it "Big Law" (or firms competing with them), what is the range of bonuses (percentage terms)? Do you do anything in place of a cash bonus?

We are a very small firm. I have had a paralegal working for me for 14 years. She is my longest tenured employee. She is good but by no means a superstar. I have given her a raise and bonus annually.… more

Small firm question... who are you using for liability and workers comp insurance? Have been using Liberty Mutual, but not satisfied.

I am looking to hire a mid level associate for my team. How can I conduct an effective interview to find someone who be committed to our work? Interviews are so superficial.

Any suggestions on how to make a partner who has traditionally been required to spend 30% of their time marketing and 70% billing accountable for their time and efforts spent marketing. I feel during… more

I am looking into a new case management system for my firm. We have used MyCase and Firm Central in the past. We like the interface of Zola Suite and the features of Smokeball. What does your firm use? Do y… more

What professional goals do you have (beyond growing your book of business)?

Can anyone highly recommend a company that specializes in digital marketing?

How does your firm make decisions about marketing costs? As a partner are you allocated a certain marketing budget? For example, do you get pre-approval to sponsor a conference?

How does your firm calculate your pay each year? Is there clear quantification of successful marketing/client development efforts, time towards client billing responsibilities, time towards leadershi… more

What’s your percentage/ratio of practice/firm management - daily, monthly, quarterly?

Anyone here a member of Strategic Coach but found a better ongoing coaching program geared specifically towards attorneys?

2021 Headwinds and Tailwinds. What are the thoughts as the fiscal year closes out? I'm seeing 2021 as likely more punishing given the lack of visibility and the fact we may have diminished econom… more

I’m interviewing for secretary and came across one I like who has 12 years experience at a well-respected law firm on Long Island. She has worked primarily in litigation. Two things seem wonky though… more

D&I clearly is the morally right thing to do. Will lack of opportunity and other headwinds for non-diverse talent force talent to leave and form boutiques to compete on skill. Will put tremendous… more

Is anyone on the verge of going back into the office? I’m in NY and we’re headed back next week. I couldn’t be happier - I’m not a fan of WFH.

Heard today that our equity partner bonuses for 2019 (paid out in 2020), may be delayed. As an owner, I can appreciate that cash flow is vital. But, I would be lying if I said I wasn’t a little concer… more

What are your top coping strategies for firm administration during this pandemic?