Considering starting your own practice? Check out the sections below for business tips and considerations by category.
Many lawyers at some point in their career find themselves considering opening their own law practice. Since many lawyers aren’t taught business classes in law school, this can be an intimidating venture.
A business plan is an summary of how your firm is going to get started, established, & grow. Any bank you approach for a start-up loan & some vendors will want to see the plan.
If a lawyer chooses an office sharing arrangement, he or she must be aware of the ethical and malpractice risks of such an arrangement.
The ABA Model Rules of Professional Conduct, and the Rules of many states, require an attorney to keep up-to-date on “the benefits and risk associated with relevant technology.”
Establishing standard processes for client intake, client communications, calendaring, billing, and other essential law firm functions is essential to running a successful legal business.
Many attorneys believe the risk of a claim against them is minimal. However, mistakes happen. Lawyers cannot control every situation. Some may find themselves in a situation where they are liable for not only their own mistakes, but also mistakes by a partner, associate, paralegal or legal assistant within their firm.
A well thought-out marketing plan is more than just a logo and business card. Not only is it needed for any potential loans, it’s also the blueprint to your firm’s future growth and identity.
Nothing has the potential for harming your fledgling firm quite so much as unrecognized tax liabilities and poor tracking of both income and expenses.
The Bar Plan is proud to offer comprehensive Lawyers’ Professional Liability Insurance coverage to attorneys in solo & small firm private practice. We also offer a part-time policy available to attorneys who have a full-time position outside the private practice of law.
We utilize experienced local defense counsel to defend your claim. All of our claim counsel are attorneys, and most of our Board of Directors are experienced attorneys. We help lawyers build a better practice because we directly understand the needs of your practice.
Get in touch with our agents and they will get you the help you need.Ask An Agent