Click here for Master the Lateral Partner Questionnaire. The Lateral Partner Questionnaire (LPQ) is the due diligence document that prospective law firms use to vett and document law partner candidates. They vary is size from 2 to 40 pages.
Click here for some free tools to help recruit lawyers without our assistance. Recruiting is expensive. Period. We believe that as the recruiting industry and technology changes so must we.
Click here for our useful LinkedIn and Twitter blog posts. LinkedIn and Twitter are game changers for sourcing candidates and attorneys considering their next career move.
To first see if we can assist you, we must ask you questions and assess your situation. We are approached by numerous lawyers every month. If we cannot place you, consider checking out our resources in our blog.
Click here for Anatomy of Law Partner Lateral Move. It depends on several variables but usually it is a 3-12 month process. 30 days is the rare exception and typically can occur during first quarter. Some of the factors that affect the timing are the acquiring firm's availability, the extent of the due diligence process, the assessment of partner fit, the existing compensation structure for the lateral partner, any restrictions of the lateral partner's existing partnership agreement, the risk tolerance of the acquiring firm, etc.
Our law firm clients like to see consistent law firm experience, a legitimate reason for moving & a vision to continue your career at a law firm.
Employers require an updated resume (1 page is recommended), your transcripts and a deal list or writing sample.
Generally speaking, a law firm can receive an associate's documents and hire within 2 weeks to 2 months or more. It all depends on the decision maker's availability, the urgency of the need, and the candidate's situation.
Click here for the Anatomy of a Law Partner Lateral Move. You will need to know what you want first and foremost. Then you will also need the following documents & information: 1) resume (written or web bio), 2) business plan/client list, 3) your origination history for the past 3-5 years, 4) knowledge of your existing partnership agreement and 5) your estimate of future originations based on your clients.
At the Lion Group, we assist Partners & Of Counsels with the lateral partner referral process and document preparation.
It depends on the firm you are considering, but usually we work with partners of portable business of $300k to $10mm+. You will need a 3-5 year prior collections history your current clients and/or a consistent history of new client origination.