One of the biggest challenges in law practice has always been how an attorney can retire if, when the time comes, he or she has nothing to “sell” other than computer equipment and office furniture. But now ethics rules generally allow attorneys to sell their practices—client matters, files, goodwill—in the way other service-based businesses are sold.
Friday, April 29, 2016
12:00 PM - 1:00 PM
Nebraska Activity #121768, 1.0 hour Ethics
One of the biggest challenges in law practice has always been how an attorney can retire if, when the time comes, he or she has nothing to “sell” other than computer equipment and office furniture. But now ethics rules generally allow attorneys to sell their practices—client matters, files, goodwill—in the way other service-based businesses are sold. However, as these transactions have become mainstream among solo and small firm practitioners, they have highlighted the many and significant ethical issues that make these sales different from the sale of other types of businesses. Among these ethical issues are proper pricing and allocation of the purchase price, fee sharing and referral fees, confidentiality, competence, and notice. Properly addressed, all of these issues can help pave the way to a successful sale and retirement. This program provides you with a real-world guide to the range of ethical issues that arise when an attorney sells or transitions out of his or her law practice.
- Ethical issues when buying, selling, or transitioning out of a law practice
- What “sales” are permitted under Rule 1.17—full practice, partial practice, but no cherry-picking
- Pricing the sale, fee sharing, and referral fees
- Confidentiality issues—what information a seller may share and what information must be disclosed
- Diligence and competence—what diligence the seller must perform on the competence of the buyer
- Role and limits of noncompetition agreements under Rule 5.6
- Notice to clients and the transfer of files
- Going “of counsel” as a transactional alternative to an outright sale
Roy Ginsburg is an attorney in Minneapolis with more than 30 years of experience practicing in large and small law firms, as well as serving as in-house counsel. He is now a solo practitioner with a national practice focusing on the area of the ethics of legal marketing. For the past 10 years, he has advised attorneys and law firms on the sale or other transition of practices and succession planning. He also has a professional practice coaching attorneys in career and practice development. He speaks and writes frequently nationwide on topics related to ethics, practice sales, and career development for attorneys.
Thomas E. Spahn is a partner in the McLean, Virginia, office of McGuireWoods LLP, where he has a broad complex commercial, business, and securities litigation practice. He also has a substantial practice advising businesses on properly creating and preserving the attorney-client privilege and work product protections. He has lectured extensively on legal ethics and professionalism and is the author of The Attorney-Client Privilege and the Work Product Doctrine: A Practitioner’s Guide, a 750-page treatise published by the Virginia Law Foundation. Mr. Spahn has served as member of the ABA Standing Committee on Ethics and Professional Responsibility and as a member of the Virginia State Bar Legal Ethics Committee.
To Register:Cost $89.00
If you need additional information on your CLE credits please contact:
- Click on abo9ve link
- Click “Login to add to cart” button at the bottom of the program page
- This will take you to the log in page, FIRST time users will need to create a user name and password that is separate and distinct from any information you may have used for the Nebraska State Bar website
- Please be sure to use the attorney name and contact information of the person who is to receive the CLE credit
- Once completed click “Update & Proceed to Payment”
- The final step is to click “Submit Payment”
- At this point you will receive an email confirmation of the purchase
- The day before the Program you will receive the dial in information and program materials
- We will submit the program participation information to the Nebraska State Bar Association within 48 hours of the program completion
Sara Weber, Nebraska State Bar Association
(402) 475-7091 ext # 131; email@example.com