A Law Firm consists of a number of attorneys who work together to meet clients’ legal needs. Partners earn a percentage of the firm’s profits and are personally responsible for bringing in business. They may work solo or oversee a team of associates. They are responsible for developing a business strategy and determining how to get the most out of each client relationship. They also prepare client-specific documents. And because attorneys can have multiple responsibilities, they should know how to balance a law firm’s needs with their clients’ requirements.
A number of large and midsize firms have attorneys who hold the title of “of counsel.” Of counsels are not partners, associates, or shareholders, but they share in the firm’s resources and brand. While they do not participate in the decision making of the firm, they do retain a close relationship with the firm. In addition to their independence, of counsel attorneys are often part-time. They work with the firm on a variety of cases, and their work is important to the firm’s bottom line.
Large law firms are known as “full-service” firms, and can have hundreds or thousands of attorneys. They specialize in a wide range of legal areas and have numerous support staff. They may also span several continents. A large firm has an extensive training program for associates and can provide pro bono services. For these reasons, hiring a Law Firm is an essential part of starting a business or improving existing operations. Just like any other business decision, a Law Firm can help you get the results you need and deserve.