Why do lawyers exercise their profession in partnerships? Why do they decide at some point to create or join a partnership? This is an important question because sometimes, problems in partnerships are linked to the absence or to a misunderstanding of a rationale for being in a partnership. Here are several possible reasons why lawyers form partnerships, and as you may guess, some are questionable... There may be legitimate needs and aspirations beyond, but a partnership may not be the best way to respond to them. Here is the list:
- Sharing costs
- Not being alone. Enjoying the company of others
- Complementary practices
- Mutualisation of risks / solidarity
- Emulation
- To look like a large firm, and let clients feel secure
- Because it's more prestigious
- To attract and serve clients with a diversity of legal needs
- Because it's the way things are done.
- Etc.
Antoine Henry de Frahan
