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Law Firm Partnership Agreement

1. Name of the Law Firm


2. Place/location of Business of Law Firm
3. Purpose
4. Term: The Partnership shall commence as of the date of this Agreement and
shall continue until terminated as provided herein.
5. Professional Liability of the firm: e.g. All the services rendered by Law Firm is
covered by Legal Malpractice insurance
6. Transfer of Partnership Interests
7. Title to Partnership Property
8. Leases
9. Notices
10.Merger and acquisition,
11. Taxes
12.Liability (vicarious, joint and several liability),
13.bank accounts
14.client retainer agreements and applications to new clients and new matters,
15.maintenance of client files,
16.Management: management structure
17.Voting- one person one vote,
18.Committees: E.g. the executive committee, practice management committee,
practice development committee, budget committee, ethics committee, bias
complaint committee,
19.committee chairpersons,
20.Managing partner,
21.administrative partner,
22.director of finance,
23.Meetings: committee meetings, partnership meetings,
24. Reports
25.Partnership income and assets: what constitutes partnership income, Net
income and distributable income,
26.pension plans,
27.expense and allowances,

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28.partner and partner classification,
29.associations,
30.fiduciary duties of partners,
31.Admission of new partners,
32.Promotion of associate to a partner
33.Compensation: seniority, merit based etc. firm’s practice, percentage of
business originated by that partner as compared with the firm’s total income.
Modification of derived amount, either upward or downward depending on
the partners billable hours, participation in firm administration, pro bono
activities, client development efforts, stature in the community. Or
percentage of his ownership in the firm which is then applied to the firms
profits. Compensation reviewed and set on a yearly basis.
34.pension plans,
35.Disability of partner
36.Death of a partner
37.Departing partner: terms of the departure, procedures for departure,
disposition of client matters, removal of files, confidentiality of client matters,
return of the firm credit cards and other property.
38.Bankruptcy
39.Dissolution of Partnership
40.Amendments to the Agreement
41.Governing Law