Recently I had a chance to sit down with Ralph Baxter here in New York for an interview that was just released under the auspices of Thomson Reuters’ Legal Executive Institute.
I invite you to take a look and of course to comment.
I follow your reasoning on why a C-Corp structure would make better sense. Having seen a couple of engineering general partnerships convert to C-Corps – with very substantial pain, especially at the junior end of the professionals – do you have experiences you could generally share about how this would happen in Law Land?
The examples I am thinking of may, of course, have been mischances characterized by particular problems of conception and execution. The major issues I saw had to do initially with valuation and raising capital, and once that was cleared, new and unfamiliar forms of governance.
Jan Petke
on November 12, 2015 at 2:11 am
Bruce,
I’ve enjoyed your view on Partnerships. I’m quite convinced, that many of the partners are also convinced that the Partnership model comes to an end. Many of them asking “what can we do to find a new model”
Therefore it’s time for us to discuss suitable options and models for an C-Corp Partnership. Otherwise we will have an pure philosophic discussion on that topic.
Jan Petke
on November 12, 2015 at 3:15 am
Bruce,
Let me one comment here; I’m fine with your clarity on an general partnership. The issue is more, what steps needed to change, because an complex organization can be only changed by small steps. My argument is more, it’s not about making attorneys change. It’s about helping them to work in a fashion that’s much more consistent with their mindset. The Key-Driver is the client at all!
Bruce,
I follow your reasoning on why a C-Corp structure would make better sense. Having seen a couple of engineering general partnerships convert to C-Corps – with very substantial pain, especially at the junior end of the professionals – do you have experiences you could generally share about how this would happen in Law Land?
The examples I am thinking of may, of course, have been mischances characterized by particular problems of conception and execution. The major issues I saw had to do initially with valuation and raising capital, and once that was cleared, new and unfamiliar forms of governance.
Bruce,
I’ve enjoyed your view on Partnerships. I’m quite convinced, that many of the partners are also convinced that the Partnership model comes to an end. Many of them asking “what can we do to find a new model”
Therefore it’s time for us to discuss suitable options and models for an C-Corp Partnership. Otherwise we will have an pure philosophic discussion on that topic.
Bruce,
Let me one comment here; I’m fine with your clarity on an general partnership. The issue is more, what steps needed to change, because an complex organization can be only changed by small steps. My argument is more, it’s not about making attorneys change. It’s about helping them to work in a fashion that’s much more consistent with their mindset. The Key-Driver is the client at all!