what do you know about law firms
They advise clients about their rights and represent them in court or transactions or other things where legal advise is needed.
when did law firms get their start or get popular?
I'm not really sure. They are organized in many ways, depending on what jurisdiction they are in or what type of law they practice.
i see. what else canyou tell me about law firms that i maynot know
In the US, there is a rule that only lawyers can have an ownership interest or be a manager of a law firm. So you'd have to go to law school if you want to open one.
oh i gotcha. guess i wont be opening up one. anything else? i dont know what questions to ask cuz im clueless about law firms!
The LLP is taxed as a partnership while enjoying the liability protection of a corporation.
Arrangements Restrictions on ownership interests.
In many countries, including the United States, there is a rule that only lawyers may have an ownership interest in, or be managers of, a law firm. Thus, law firms cannot quickly raise capital through initial public offerings on the stock market, like most corporations. They must either raise capital through additional capital contributions from existing or additional equity partners, or must take on debt, usually
Law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients (individuals or corporations) about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.
Arrangements.
Law firms are organized in a variety of ways, depending on the jurisdiction in which the firm practices. Common arrangements