All You Need To Know About Law Firms

Posted by Aaeesha on October 20th, 2015

Law firms generally comprise of several lawyers working together to practice law. Law firms can be arranged in several ways. Sole proprietorship, limited liability partnership and corporations are commonly seen among law firms. Law firms have special ownership requirements in certain countries, unlike other companies. As per the US Model of Professional Conduct, only lawyers are allowed ownership and to manage law firms. The only exception in US is the District of Columbia where non-lawyer partners are allowed equity ownership provided they assist the firm actively. The scenario was similar in UK until it was changed in 2007. When corporate firms have operations in different countries, it becomes more complex to deal with ownership and equity.

Law firms provide various services to its clients. This primary includes advice on legal rights and responsibilities and representing them in case of civil and criminal cases with respect to business. Law firms are usually small comprising of sole proprietorship and LLP who specialize in certain law. A maritime lawyer deals with clients involved in water and sea related business whereas tax attorneys specialize in rules and policies pertaining to taxation. Labor law, patent law, family law, personal injury law, criminal law, insurance law, etc are among the list of specialties available. Depending on the number of lawyers, their specialties, experience in the field and achievements, a law firm is able to attract clients. Corporate law firms have various departments each with a specialty of their own. Some law firms form partnerships with other law firms located in different jurisdiction or country. It helps them improve their visibility and spread the client base across boundaries.

With many small firms available, it is difficult for a client to choose one among them. Client partnership with law firms usually last long as it is important for the firm to know the client well while representing them. Being able to win a case for their client is considered to the most important factor in choosing law firms. Make sure that the firm has enough experience in your field of business and has a proven track record. A maritime lawyer having several years of experience in maritime law will be your suitable choice if your company deals with sea related business. Smaller firms provide you with personalized services. Corporate firms have the advantage of providing you with different specialties when your business has such needs. Take into account these considerations before settling up with a firm.