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  1. #1
    BearCalvalry Guest

    Post Paralegal Class Assignment - Create a Law Firm

    Hello ladies and gentlemen. I am a paralegal student in college, and I have a very strange assignment. We have to come up with our own law firm. And there are a lot of things we have to include, but this is my first quarter, and I don't know how I am supposed to answer all of these questions. My teacher will not answer emails.

    Okay. I am supposed to write out A retainer agreement... with contingency, billable, statutory fees. Can someone provide me with a link to an example of this?

    Also... I have to chose 3 areas of law my firm would practice. So I chose Real Estate, healthcare, and intellectual property. But why I would chose one of the other, I don't understand. Why would someone chose to go into for example Real Estate law? Because of their own problems?

    And one more... if my fake company has 6 senior partners, and 12 junior partners, how would the percentage allocated look like? I don't really know how it is divided up.

    Thank you all so much

  2. #2
    Join Date
    Mar 2007
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    9,096

    Default Re: Paralegal Class Assignment - Create a Law Firm

    Lawyers choose areas of law for much the same reasons doctors choose areas of medicine... it is either of interest to them or very profitable.

    I will say that very few law firms would specialize in such different areas of law.

  3. #3
    BearCalvalry Guest

    Default Re: Paralegal Class Assignment - Create a Law Firm

    Quote Quoting cyjeff
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    Lawyers choose areas of law for much the same reasons doctors choose areas of medicine... it is either of interest to them or very profitable.

    I will say that very few law firms would specialize in such different areas of law.
    aha, so than what areas of law would go with Real Estate?

  4. #4
    Join Date
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    Default Re: Paralegal Class Assignment - Create a Law Firm

    Typically? Estate planning, perhaps tax. Perhaps family law.

    Use Google and you'll find any number of law firm websites describing their practice areas.

  5. #5
    BearCalvalry Guest

    Default Re: Paralegal Class Assignment - Create a Law Firm

    Quote Quoting Mr. Knowitall
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    Typically? Estate planning, perhaps tax. Perhaps family law.

    Use Google and you'll find any number of law firm websites describing their practice areas.
    Thank you, I do use google, but it is better to ask actual people than a search engine, a lot of stuff is just advertising

  6. #6
    Join Date
    Jan 2008
    Posts
    1,948

    Lightbulb Re: Paralegal Class Assignment - Create a Law Firm

    I did a google search and this was at the top.
    You MUST learn to search the internet! If your school does not offer a class on web research check with your local library.

    http://www.cfli.com/sample-retainer.html

  7. #7
    Join Date
    Jan 2006
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    38,867

    Default Re: Paralegal Class Assignment - Create a Law Firm

    Quote Quoting cyjeff
    View Post
    Lawyers choose areas of law for much the same reasons doctors choose areas of medicine... it is either of interest to them or very profitable.

    I will say that very few law firms would specialize in such different areas of law.
    agreed. generally the differing areas of law would have some relation to each other, especially when you are considering areas as specific and specialized as IP law.

    So, look for a relationship between the specialties you choose. It allows you to be more well versed with less individualized study in any one of them by utilizing the inter relational studies to be used in the other areas as well.



    Like with any business, what is negotiated is individual to that company.

    Don't forget the associates that don't have their name on anything but their door and business cards.


    with a partner, you can have equity owning partners and non-equity owning partners. In some, this would be the distinction between senior and junior partners but there is nothing requiring this to be so. With an equity owning partner, they are the actual owners of the firm. In a non-equity owning partner, they generally have a voice in the operations of the firm although a reduced one and of course, have no ownership in the firm. Associates generally are simply hourly paid attorneys.(although often paid bonuses as well as their hourly or salary pay)

    the partnership reference is often used because the business model is a partnership and the owners are legally partners due to that. Due to that, the partners in business, which would include any equity owning entity, not only are attorneys but they are running a business as well. They may not actually perform the legal activities typically carried out by the staff attorneys but are simply a figure head and business owner/operator.

    Again, each business (firm) is a separate business and there are no hard set rules as to what any given term means

  8. #8
    BearCalvalry Guest

    Default Re: Paralegal Class Assignment - Create a Law Firm

    thank you so much guys

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