With a focus on scenarios from our day-to-day practice, Foxed? offers practical solutions to some of the most pressing partnership and employment law questions we hear from our clients.
At a time of high mobility within the professional services market, this month’s episode, featuring Dean Fuller and Eleanor Diamond, looks at how partners leaving one firm to join another can best manage their transition.
During their short discussion, Dean and Eleanor cover:
- The importance of due diligence for a partner moving to pastures new, in particular examining the financial situation, earnings potential and members’ agreement at the new firm carefully.
- Considerations of liability relating to premises and professional negligence.
- The need to consider exit provisions within the members’ agreement at the new firm so as to be fully informed as to respective rights and obligations if things don’t work out.
- Issues relating to restrictive covenants and team moves.
- Is there alignment between the moving partner’s attitude to risk and that of their new firm? The need for cultural fit is important too.