As the economic downturn lingers, lawyers continue to change firms at unprecedented rates. Firms seem to hire laterals and lose partners almost daily.

Many managing partners find a big surprise when they look at their firm’s buy-sell agreement. Management usually ignores employment and buy-sell agreements until someone leaves. They rarely focus on the impact of a mass, or even a semi-mass, exit.

Spending a few minutes with a buy-sell agreement prior to those departures may prove invaluable. Departing partner payouts can place an unexpected and unneeded burden on the remaining partners. The payments may put so much pressure on...

Continue Reading for less than 70p per day!

This article is part of our subscription-based access. Please pick one of the options below to continue.

Already registered? Login to access premium content

Not registered? Subscribe

Login  Subscribe

On-line Web Offer

To save 40% off your first years subscription enter discount code: sjweb40 at the checkout