F. REGULATION OF LAWYERS IN FIRMS 1. REGULATION OF LAW FIRMS o What Forms of Business Entity Can Lawyers Use? o Traditional forms o Sole Proprietorship.

Slides:

Advertisements

Similar presentations

Chapter 31 Entrepreneurs and Sole Proprietorships

Advertisements

American Bar Association Ethics 20/20 Commission Presentation to YLD Council Las Vegas, May 12, 2011 Professor Paul D. Paton, Reporter.

Exercise Science The Legal & Professional Responsibilities of Personal Trainers.

Sole | Partnership | Ltd | LLP | CIC Setting up as a sole trader If you operate as a sole trader, you have complete control over how your business is run,

Law 20 Conflicts of Interest. o Based on duties of o Loyalty o Confidentiality o Rules cover: o Concurrent representation of adverse clients o Representation.

The Entrepreneur’s Options Chapter 19. Introduction Entrepreneurs wishing to start a new business must be aware of advantages and disadvantages of various.

Accounting: The Language

© 2004 John S. Herbrand, Esq. LEGAL ENTITIES FOR CONDUCTING BUSINESS JOHN S. HERBRAND, Esq. ONE CHASE SQUARE SUITE 1900 ROCHESTER, NEW YORK TEL:

Fundamentals of BUSINESS ORGANIZATIONS FOR PARALEGALS Third Edition

Business Associations (Organizations) OBE –118, Fall 2004 Professor McKinsey A group of two or more people (or even one person) can create a new “person”

Chapter 34 LLC’s and LLP’s

Forming The Start Up Venture Which Structure is Right for You? Gregory W. Gribben, Esq. Woods Oviatt Gilman LLP October 9, 2012.

Forms of Business Ownership. Canadian Business Types In Canada, we generally have 4 types of business structures: 1.Sole Proprietorships 2.Partnerships.

Selecting the Right Structure For Your Business Advice from CPAs.

Chapter 15: Business Entities

Choosing the Best Business Structure. Choosing the Legal Structure of Your Business Sole Proprietorship Partnership Limited Liability Company Corporation.

© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 41 Limited Liability Companies and Limited Partnerships Chapter 41 Limited.

Choosing the Best Business Structure

Selecting a Structure for your Business Presented by (Name, CPA) Member, The Ohio Society of CPAs 8/10/

Conflicts and the Duty to Supervise for In-House Counsel Brian McCormac BrownWinick 666 Grand Avenue, Suite 2000 Des Moines, IA Telephone:

Copyright © 2009 by Pearson Prentice Hall. All rights reserved. PowerPoint Slides to Accompany CONTEMPORARY BUSINESS AND ONLINE COMMERCE LAW 6 th Edition.

Outsourcing: The Ethical Issues Steven M. Richman November 2014.

Law 20 The Legal Team & Regulation of Lawyers. The Legal Team o Attorneys o Partner/Shareholder o Managing Partner o Associate Attorney o Lateral Hire.

Chapter 33 Limited Liability Companies and Special Business Forms

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Principles of Taxation Chapter 9 Sole Proprietorships, Partnerships, and S Corporations.

Forms of Business Organization in the USA

Entrepreneurship Mr Farrar. Describe the different forms of business Analyze and propose the best form of business for a desired business opportunity.

Chapter 2 - Rules The Basic Elements of Law Practice.

Chapter 2 Paralegals in the Legal System. Types of Paralegal Programs o Associate’s Degree o Requires general education courses and legal specialty courses.

FOUNDATIONS OF ENTREPRENEURSHIP Elikem Nutifafa Kuenyehia CLASS FIVE: LEGAL,REGULATORY AND POLICY CONSIDERATIONS.

Selecting the Right Structure for Your Business. Getting Started How should you operate and structure your business? It can be difficult, so ask for help.

What is Small Business? Topic One. THE ROLE OF ACCOUNTING IN THE SMALL BUSINESS SECTOR The accountant looks after the business’s financial situation including.

The Legal Team, Law Practices, and Law Firm Governance Practical Law Office Management, 3 rd Edition, Thomson Delmar Learning ©2007 Thomson Delmar Learning.

Chapter 14. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall.  Entrepreneur: A person who forms and operates a new business either.

Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. © Chapter 12 Legal and Tax Issues.

Basic Business Organizations Class 5. Starting a Business  The first question: –What form should the business take? Sole proprietorship Partnership Corporation.

Business Organizations. Types of Business Organization  Sole Proprietorship - an individual carrying on business alone  Partnership - two or more people.

CHAPTER 1: THE PURPOSE AND USE OF FINANCIAL STATEMENTS

RECAPE LAST LECTURE ECONOMIC ENVIRONMENT FOR BUSINESS.

Unit 5 Midterm Review. What are some of the components of the ABA?

Unit 18 Forms of Business Organization Ted Feitshans Agricultural & Resource Economics N.C. State University November 2003.

 An LLC is a hybrid entity that combines the limited liability of a corporation and the tax advantages of a partnership.  LLC’s are increasingly becoming.

LEGALITIES. Independent Contractors vs. Employees ◦ Personal trainers working in clubs are: ◦ Independent Contractors ◦ Employees ◦ Personal trainers.

Carlsmith Ball LLP Confidentiality Issues and Outside Counsel Deborah Bjes October 22 nd, 2015.

Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. © Chapter 12 Legal and Tax Issues.

TOPIC D: FIRM NAMES AND FIRM MEMBERS P.R Prof. Janicke.

Establishing the Legal Foundation

Legal Forms of Business Organization Chapter 26.1.

NATHAN J. DOSCH GRANT THORNTON, LLP THANKS TO JOE BOUCHER AND NEIDER & BOUCHER, S.C Burrill Competition 2012 Business Entities.

Medical Practice Management Systems Lesson 2:3. There are four basic types of medical practice Sole proprietorship partnership Professional corporation.

1 ETHICAL LAWYERING CLASS 3. 2 Cal. Bus. & Prof (a) Any person advertising or holding himself or herself out as practicing or entitled to practice.

Arizona City Attorneys Association Conference, May 19, 2016 Update on Ethics Rules for Government Lawyers Geoffrey Sturr Osborn Maledon, P.A.

Midterm Review 1.  Lawyers have ethical obligations that are required by the organizations to which they belong.  Lawyers are “members of the bar”,

1 Ethical Lawyering Fall, 2006 Class 4. 2 MODELS OF THE RELATIONSHIP Traditional Model Participatory Model Hired Gun Model.

©2001 West Legal Studies in Business. All Rights Reserved. 1 Chapter 18: Limited Liability Companies and Limited Partnerships.

Year 10 Accounting & Entrepreneurship.  Define the types of business structure  List advantage and disadvantages of each  Identify when to use which.

Accounting: The Language

Incorporation of Patent Attorneys

Chapter 31: Other Organizational Forms for Small Businesses

Chapter 26 Forms of Business Organization

The Law of Corporations

Copyright John Wiley & Sons Canada, Ltd.

What are the rules that apply? What are duties of the lawyer?

Chapter 12 Legal and Tax Issues

Corporations and Trusts Law Chapter 3 Choosing a Business Structure

Chapter 38: Limited Liability Companies and Limited Partnerships

Chapter Three – Forms of Business Organization

How Should I do Business?

Chapter 13 Choice of Business Entity, Sole Proprietorship, and

Presentation transcript:

F. REGULATION OF LAWYERS IN FIRMS 1. REGULATION OF LAW FIRMS o What Forms of Business Entity Can Lawyers Use? o Traditional forms o Sole Proprietorship o Partnership o Limited Liability Forms o Corporation o Limited Liability Company o Limited Liability Partnership

[Forms of business entity] o What is at stake? o interests of creditors/ claimants o Clients (recipients of legal services) o Other creditors of the firm o Liability o E ntity itself o Principals (partners, shareholders) o Particular members providing service o Liability insurance!

o Basic issues o Statutory forms, judicial regulation of lawyers’ practice – who decides what? o Henderson, p. 93: how exactly does the Georgia court answer this question? o when corporate form is used, what is liability of principal for others’ malpractice? o are lawyers permitted to use that form? o Is there a problem with limiting liability to non-client creditors of the firm?

o MRPC 1.8(h)(1): limitation of liability for professional services – is a lawyer permitted to do that? If so, under what conditions? o No agreement between lawyer and client to limit lawyer’s prospective liability for malpractice, unless client is independently represented by other counsel in doing so

o How does that principle apply to a lawyer in a firm practicing as a limited liability entity? o ABA Ethics Committee 1961 (!) said that as long as the lawyer performing the services remains personally liable, and the firm as such remains liable to the extent of its assets, it’s OK to relieve others from personal liability o many if not most jurisdictions require each firm as well as each lawyer to have adequate professional liability insurance o Comment 14 to Rule 1.8

Law-related Services and Multidisciplinary Practice o May a law firm also provide non-legal services as part of its business, including those which are separately regulated and licensed? 4 possible modes: o lawyer member as provider o qualified non-lawyer provider (NLP) as employee o qualified NLP as firm principal (partner, shareholder) o qualified NLP as separate entity, with law firm holding equity interest

Non-lawyer provider as employee o Are the non-legal services to be provided “law-related”? MRPC 5.7(b) o If so, what are the firm’s obligations? MRPC 5.7(a) o If the customer receives only those services? o If the customer is also a legal-services client? o See also MRPC 5.3 on lawyer duties concerning non-lawyer assistants

Non-lawyer provider as principal o What is the issue? MRPC 5.4 o Will the non-lawyer share in the firm’s legal fees? o Will the non-lawyer exercise control over the provision of legal services? o If either, flat prohibition!

Non-lawyer provider as distinct enterprise owned by firm o What is the issue? o Does an attorney-client relationship arise between N-L’s customer and firm? o If the customer also wants legal services, can the firm provide them? Under what conditions? o MRPC 5.7(a)(2) o Formal Opinion No , p. 95

Associate’s Ethical Obligations o What is the nature of the associate’s employment relationship to firm? o Jacobson, p. 101 o If associate is directed by partner to do something that assoc. believes is improper, what are assoc’s obligations and options? o MRPC 5.2 o Jacobson: what if you get fired for objecting? o If associate engages in improper conduct, are partners co-responsible? MRPC 5.1

o