Who has equity ownership of a law firm is perhaps the biggest issue that law firms have to face.
Who has equity ownership of a law firm is perhaps the biggest issue that law firms have to face. Fundamentally, partners have to decide who they want as partners, what skills they should have, the risk they wish to take, their strategic direction, how the practice should be funded and the value they place on the practice. Each generation will have differing views and expectations and this needs careful planning and management.
Join this webinar as our speakers, Howard Hackney, partner at Howard Hackney LLP and Mark Briegal, partner at Aaron & Partners LLP, consider the issues of equity ownership from both the perspective of the partnership and a new partner. Hear from our experts as they address the financial and legal aspect of equity ownership and gain practical advice for your firm.
The session will cover:
- what personal and technical attributes should be expected from partners
- is the existing governance structure appropriate to attracting the best talent?
- how to determine the value of the practice for the purposes of new and exiting partners
- how to determine the financial strength of the practice
- how are and how best should premises be dealt with
- the impact of off balance sheet finance
- how are profits divided and is profit sufficient
- and much more…
Date : Thursday 11 January 2018
Time : 12:30 -13:30
SRA competence : A, A2*
Price : £45 + VAT (Discounted 20 per cent for Law Management Section members)
About the speakers
Howard Hackney, partner, Howard Hackney LLP
Howard left Grant Thornton UK LLP in 2008 where he had been a partner for over 25 years to establish his own advisory only boutique practice. During his time at GT he was head of professional practices for the North West and head of family businesses for the UK. Howard specialises in providing ’special project’ advice to mid-market professional practices with up to 30 partners and family businesses. In 2002 he won the CBI’s national award as ’Best Business Adviser’. Recent assignments have included sales of law firms, partnership disputes, fund raising, LLP and limited company conversion and advising on capital structures and profit sharing regimes. He has presented a number of webinars and at conferences for the Law Society on a variety of topics. He has recently established a specialist bespoke law firm merger service – Mosaic Legal – with former LMS chairman Nigel Haddon.
Mark Briegal, partner at Aaron & Partners LLP
Mark Briegal is a Partner at Aaron & Partners LLP, a Top 200 commercial law firm based in Chester, Manchester and Shrewsbury. Mark heads up the Partnership and Professional Practices team working for such firms, whether as general partnerships, LLPs, LPs or limited companies. His work covers all aspects of partnership; formation, agreements, LLP conversion, disputes, expulsions, dissolutions, mergers and sales. He originally worked for Chase Manhattan Bank, and then in management consulting, before becoming a lawyer. Mark aims to bring a very practical approach to business law. Ranked in Legal 500 and Chambers who says: The ’commercial and sensible’ Mark Briegal represents solicitors, doctors and accountants in a wide array of partnership matters. Sources describe him as ’very good; extremely bright and personable.’