Good Governance in Law Firms

A Strategic Approach to Executive Decision Making and Management Structures, Second Edition

Norman K Clark (Autor)

Buch | Hardcover

315 Seiten

2023 | 2nd New edition
Globe Law and Business Ltd (Verlag)
978-1-78742-934-5 (ISBN)

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Good governance has become a critical condition for law firms of all sizes to meet the new, fast-moving opportunities of fast-changing markets for legal services — much more than just having a good partnership agreement.

Our multidisciplinary team of contributors demonstrate how governance has become a unifying and integrating system for a wide range of critical strategic and business issues. The inquiry starts with an overview of modern governance structures in law firms, and how the concept of governance has expanded to include features such as professional managers and partner remuneration systems.

To be effective, a law firm's governance system must facilitate, not complicate, the solution of important internal challenges, such as change management, managing partner performance and succession planning. How can good governance help law firm owners to make better decisions? How can governance incorporate management information and concepts of risk management into the decision-making process?

With new insights and substantially updated guidance derived from the recent developments and disruptions of the past ten years, this Second Edition, published in association with the International Bar Association, concludes with an examination of emerging trends that will shape law firm governance in the future. It provides visionary, but entirely realistic, insights into how law firm governance will need to continue to adapt to new regulatory regimes for the legal profession, stress testing concepts and new alternative business structures.

Introduction 5
Norman K Clark
Walker Clark LLC

Part I. Building an effective structure

Strategy drives governance 9
Leopoldo Hernández Romano
KermaPartners
Rocío Vázquez Zavala
Modum

Fundamental elements of modern governance in law firms 19
Norman K Clark
Walker Clark LLC

Governance as an organising framework for managing the practice and the business 37
Tony Williams
Jomati Consultants LLP

Governance and structure: supporting the long-term success of a partnership 49
Michael Roch
MHPR Advisors

Five keystones for efficient business support operations for your law firm 69
Iryna Nikitina
IOCONS LLC

Part II. Challenges for law firm governance

Leaders’ insights on law firm governance 99
Norman K Clark
Walker Clark LLC

Effective decision making in law firms 107
Sarah Martin
Martin & Levin; University of Oxford Saïd Business School; Meyler Campbell

Good governance and partner performance 127
Lisa M Walker Johnson
Walker Clark LLC

Riding the compensation tiger 167
Norman K Clark
Walker Clark LLC

Partner compensation and partnership structure 179
Martín Carrizosa
Lawyer

Partner appraisals: what does the managing partner need to know about partners’ performance? 185
Aku Sorainen
SORAINEN

Governing risk 197
Norman K Clark
Walker Clark LLC

Succession, retirement and beyond 209
Lisa M Walker Johnson
Walker Clark LLC

Part III. Governance tomorrow

Governance for lawyers in a new era – ‘alternative’ law firms 233
Stephen Revell
Making Change Happen

Leading change 267
Lisa M Walker Johnson
Walker Clark LLC

About the authors 311

About Globe Law and Business 315

Erscheinungsdatum	28.04.2023
Verlagsort	London
Sprache	englisch
Maße	160 x 240 mm
Themenwelt	Recht / Steuern ► EU / Internationales Recht
Themenwelt	Recht / Steuern ► Privatrecht / Bürgerliches Recht ► Berufs-/Gebührenrecht
ISBN-10	1-78742-934-2 / 1787429342
ISBN-13	978-1-78742-934-5 / 9781787429345
Zustand	Neuware