A group of attorneys who practice law together create a law firm, which is a legal corporate entity. A legal company’s members typically work with a variety of clients, and as a result, the firm makes money by offering its services to those clients.
Why would lawyers band together to operate in a group when they can work alone as litigators or exclusively for a firm, is the obvious question that may have already entered the reader’s mind. The lawyers do this while operating under the same roof, ostensibly to offer their clients more comprehensive and specialized services. Additionally, by banding together, the attorneys can share a variety of resources, including personnel, furnishings, technology, internet, a library, and other advantages.
Traditionally, the foundation of law businesses was a partnership. However, since times have changed, they are now structured differently according to the country in which they conduct business.
To people, organizations, or businesses, law firms offer a range of specialized legal services. A law firm’s main function is to advise its clients on their legal rights and obligations and to represent them in any cases requiring their aid, including those involving civil and criminal law, business transactions, intellectual property, real estate, and taxation.
Law Firms can be any of the following sorts depending on their arrangements:
There is only one attorney in this law firm, and he or she is accountable for all gains, losses, and liabilities related to the practice of law.
All of the attorneys who are members of this sort of law firm collectively share the firm’s gains, losses, and liabilities.
Association of Professionals:
This kind of law company issues stocks to the lawyers or advocates and runs similarly to a business corporation.
Company Limited Liability:
The lawyer-owners in this situation are regarded as members but are not directly liable to the law firm’s creditors.
Limited Liability Company:
There is a partnership between the attorney-owners in this type of law firm. However, neither a lawyer member’s duty to the law firm’s creditor nor culpability for any carelessness committed by another member is recognized. The LLP enjoys the liability protection of a corporation while being taxed as a partnership entity.
Organizational Structure of the Law Firms
We’ll now examine the personnel that make up a typical law company, which includes the following people:
They share ownership and serve as the company’s directors.
They are law firm employees who are eager to become partners. Junior attorneys who are new to the field of law typically begin their careers as associates at a law firm. They can be divided into junior associates and senior associates depending on the type of firm.
Typically, they are legal students from different law schools who come to gain the essential practical knowledge and abilities to pursue a career in their field of interest. Even recent law graduates who have not yet received enrollment may choose to intern at legal firms. Simply defined, these interns are those who, despite having theoretical or academic knowledge, still need to develop the necessary practical skills. They anticipate receiving a PPO (pre-placement offer) and joining the firm of their choosing as an associate.
Assignment of tasks to each Member:
As joint proprietors, the Partners have ownership stakes in the company. Additionally, as business directors, they are in charge of the company’s organizational and other tasks.
The firm’s customers and cases that are brought in are typically handled by the Associates. Senior Associates examine problems that require more skill and complexity, whereas junior associates examine matters requiring less complexity and expertise.
The interns are given a variety of assistant’s responsibilities, such as checking case lists, assisting with the drafting process, creating draughts, and performing research and analytical assignments. They might occasionally be required to complete trivial activities like getting a printout.
Successful legal companies that provide excellent customer service concentrate not just on meeting but also exceeding their clients’ expectations.
In the current market, providing excellent customer service is quite important. While fewer clients are being sought after by an expanding number of attorneys and legal firms, client loyalty is declining. Being just qualified or an authority in the legal field is insufficient in the current legal climate. A legal firm’s success is not just based on the caliber of the work it does; it also depends on how well clients are treated by the firm.
NOTE: It is just a content. Before acting or proceeding please consult the licnesed and professional Advocates and Legal Consultants.