October 28, 2015 WebIPHour
12:30pm - 1:30pm EST
In today’s business climate, the law firm that does not recognize client origination, one way or another, will probably not prosper and may not survive. Origination of new business from existing and potential clients is one major criterion when setting partner compensation in most law firms. Most financially successful law firms acknowledge the relative importance of origination and use that knowledge to differentiate appropriate levels of income between among its attorneys.
Joel will discuss the best management practices for when and how to track, allocate, transfer and transition origination credit for partner compensation in firms having a purely objective formula, a subjective and a combination subjective – objective compensation systems.