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Features
For many managing partners, the practice of law is easy compared with the challenges associated with "realization": an 11-letter word that is the bane of all managing partners everywhere. And 100% realization? Well, that's the Holy Grail of law firm management. Given the choice of winning a Supreme Court case or solving the riddle of meeting their firm's realization goals, many managing partners might just tell the Chief Justices to take a hike.
Last month, we reviewed how to tailor a scorecard to your individual firm's goals. This month we review a very important financial metric. In creating a partner scorecard and setting individual partner goals, Realization should be at the top of the list.
This article is intended to provide some fundamental guidance for attorneys and law firms whenever employee-owner compensation is at issue. In many instances, this focus will relate to ownership decisions regarding the overall allocation and character of enterprise profits, but the same concepts and analytical framework can be of benefit in the assessment of reasonable compensation for other purposes, such as the valuation of a non-compete agreement and in the segregation and measurement of personal/professional versus enterprise goodwill for dissolution of marriage purposes in jurisdictions where this aspect is in play.
In-depth analysis of recent rulings.
This is the fourth in a series of articles discussing how in-house counsel can better manage litigation matters.
Technology has advanced the workplace well beyond many general workplace practices employers have in place, and outpaced some workplace laws, including provisions of the Federal wage and hour laws.
Features
Everything contained in this issue, in an easy-to-read format.
