How do your firm's key decisions get made? How many partners must agree to move strategic issues forward? How will your practice be valued upon retirement? Is it the same for when a new partner buys in? Â These often misunderstood aspects of a partnership become critical and sometimes divisive when firm changes cause you to apply them. In this session, we'll explore things to consider when creating or updating your partner agreement and determining the governance of your firm.
DESIGNED FOR
Leaders and influences across all practices areas of the firm, including operational leaders.
BENEFITS
After attending this presentation you will be able to...
- Identify the roles, responsibilities, and decision-making authority of the partners
- Recall ways for determining buy/sell and retirement values
- Recall the essential elements that should be included in all partner agreements
HIGHLIGHTS
The major topics covered in this course include:
- Clarifying ownership of partner responsibilities across the partner group
- Creating accountability amongst the partner group to an agreed upon code of conduct
- Defining the crucial definitions to include in your operating agreement
- Identifying old language that should be updated for the current market
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None