You and two other like-minded colleagues have decided to form an entity for the purpose of delivery...

Question

You and two other like-minded colleagues have decided to form an entity for the purpose of delivery of legal services to potential and your current clients. You have decided to do so in a creative way rather than just joining another firm. And, you have selected a legal niche that is not completely traditional. You have the ability to borrow enough operating capital to finance the entity for 12 months. Each of you has sufficient personal clients to bill about 100 hours per month on client matters.

Your and your colleagues’ three main objectives are: (1) to provide clients unique fee structures other than solely billing by the hour; (2) to fairly compensate each of you and your employees; and (3) to successfully anticipate and master the changing marketplace.

Your final exam assignment is to describe in detail what business approach you would propose to accomplish your objectives. In doing so, please be sure to describe:

1) What legal practice or niche you have selected, and why;

2) What do each of the 3 of you bring to the entity;

3) Why did you choose the others to help start this venture;

4) What are the characteristics of the entity you will form to operate your business, and why have you chosen it;

5) Specifics as to how you will operate your business;

6) How you will finance this venture, and how you will pay the money back;

7) How are you going to compensate yourself and your employees;

8) Your approach to fee structures, and why;

9) How are you going to incorporate technology into your plans;

10)How you will market your business and why you have chosen that market strategy;

11)How you think the marketplace will respond to your venture and why;

12)How you will maintain existing client relationships and develop new client relationships; and

Where do you see the entity in 3, 5, and 10 years?

Robert · Accepted Answer

Running Header: LAW PRACTICE   1
Law Practice Assignment
LAW PRACTICE ASSIGNMENT        2
Legal Practice With Justification
The legal practice selected by us is on Employment Law. Since the law is attributed to the rights 
and duties that prevail between the employers and workers, with the rules being twisted by lot of 
employers all across, we as a team felt the need to offer services and practice primary design 
offering a workspace for employees that is free from any encumbrances (Mattke, S., Schnyer, C., 
& Van Busum, K. R., 2013; Schipani, C. A., Milliken, F. J., & Dworkin, T. M., 2017; Ratha, D., 
Yi, S., & Yousefi, S. R., 2015; Hepple, B., 2013; Dowling Jr, D. C., 2014).
Also being referred to as the labor law, the various regulations and rules are primarily not only 
designed in a manner that would keep workers working in a safe environment but also it would 
make sure they are not affected due to not being treated fairly. Although laws that are prevalent 
in various place in order to protect employers’ do wary along with the interests as well (Mattke, 
S., Schnyer, C., & Van Busum, K. R., 2013; Schipani, C. A., Milliken, F. J., & Dworkin, T. M., 
2017; Ratha, D., Yi, S., & Yousefi, S. R., 2015; Hepple, B., 2013; Dowling Jr, D. C., 2014) 
. Employment laws considering being based on federal along with the state constitutions, 
administrative rules along with the formed court opinion and legislation are crucial and 
significant.  
A particular employment clause that would entail the relationship is to be governed by contract. 
Many of the disputes pertaining to employment do result in the various litigation and the 
LAW PRACTICE ASSIGNMENT        3 
approach to the deal with “wage and hour” has been considered to be the violations. Federal law 
also bring about to establish baseline rules that are associated with respect to the concerns, legal 
practices along with the states that have the benefit and are free to pass the various laws 
associated to provision additional protections (Mattke, S., Schnyer, C., & Van Busum, K. R., 
2013; Schipani, C. A., Milliken, F. J., & Dworkin, T. M., 2017; Ratha, D., Yi, S., & Yousefi, S. 
R., 2015; Hepple, B., 2013; Dowling Jr, D. C., 2014) 
.  
To consider an example, the federal law does take not consideration that a minimum wage of 
$7.25 which is hourly and considering the case of other states have been known approve a higher 
minimum wage for the workers need to be well complied to within the effective states so that 
justice prevails.
The laws which form the basis of Wage and hour also tend to regulate the overtime pay which is 
a concern and at the same time, too much a debatable concern.  
The federal government considers that it is not the place that would limit on the number of hours 
that any adult would work per week, but the reliance post 40 hours’ time entails that half of the 
amount must be paid (Falk, G., Gabe, T., & Bradley, D. H., 2014; Dube, A., 2014; Alexander, 
C., & Haley‐Lock, A., 2015; Kinney, K., 2015; Schipani, C. A., Milliken, F. J., & Dworkin, T. 
M., 2017). Rules that have been existing to control such particular hours along with the 
prevailing working conditions set for employees who fall under age 18 also takes into 
consideration the various provisions that are being associated with the working pertaining to the 
popular agricultural sector (Falk, G., Gabe, T., & Bradley, D. H., 2014; Dube, A., 2014; 
LAW PRACTICE ASSIGNMENT        4 
Alexander, C., & Haley‐Lock, A., 2015; Kinney, K., 2015; Schipani, C. A., Milliken, F. J., & 
Dworkin, T. M., 2017).  
In addition, there are various laws that do require that the employers to post notices along with 
keeping the basic prevalent payroll records.
Our Contribution To The Entity
I would be bringing the contribution towards the discrimination in the workplace and the 
associated employment law cases from the clients. The second colleague would be focussed on 
the marketing for the entity and the various ways in which we can bring the clients to our office 
while offering potential legal services (Mattke, S., Schnyer, C., & Van Busum, K. R., 2013; 
Schipani, C. A., Milliken, F. J., & Dworkin, T. M., 2017).
The third colleague would be looking at the servicing of the clients. In case of any needs of the 
existing clients need to be met along with the visits to their offices or workplaces would be taken 
care by the third colleague.  
The dynamics of our team entails that each one is responsible for the roles we feel each one 
would associate to well. At the same time there are no such fixed contributions (Eftekhar, M., 
Ronaghi, F., & Saberi, A., 2015; Liu, F., & Maitlis, S., 2014; Tong, Y. G., Shi, W. F., Liu, D., 
Qian, J., Liang, L., Bo, X. C., ... & Sun, Y., 2015). We would be working as a team and the 
responsibilities tend to be shared amongst each of us.  
LAW PRACTICE ASSIGNMENT        5
Reasons To Choose The Others To Help Start This Venture
The personal clients in our venture would be billed to the extent of 100 hours for each month and 
would vary on an average based on the needs of the clients (Eftekhar, M., Ronaghi, F., & Saberi, 
A., 2015; Liu, F., & Maitlis, S., 2014; Tong, Y. G., Shi, W. F., Liu, D., Qian, J., Liang, L., Bo, 
X. C., ... & Sun, Y., 2015). This contribution would be from each of us. While setting up the 
venture, handling everything by self would not be justified as there are many a concerns that 
cannot be handled solely.  
Also while working as a team we tend to brainstorm the various considerations linked to the 
legal practices we tend to offer to our clients (Eftekhar, M., Ronaghi, F., & Saberi, A., 2015; Liu, 
F., & Maitlis, S., 2014; Tong, Y. G., Shi, W. F., Liu, D., Qian, J., Liang, L., Bo, X. C., ... & Sun, 
Y., 2015).
The networking, each of the colleague has would definitely offer the key considerations for our 
venture in such a manner that we are able to meet the goals and the objectives set for the venture 
can be realized soon
LAW PRACTICE ASSIGNMENT        6 
Characteristics Of The Entity We Will Form To Operate Your Business With Justification
The characteristics of the entity would include the well managed services being offered to the 
clients. The associated colleagues in the entity with the remaining staff would contribute in the 
growth of our firm. We tend to be like minded and wish to operate offering the services that are 
cherished by the clients and plan to set up the services which are offered at a long term level with 
the repeat business flowing from our clients (Acharya, V. V., Baghai, R. P., & Subramanian, K. 
V., 2014; Dechow, P. M., & Tan, S. T., 2016; Autio, E., Kenney, M., Mustar, P., Siegel, D., & 
Wright, M., 2014; Garicano, L., Lelarge, C., & Van Reenen, J., 2014).

You and two other like-minded colleagues have decided to form an entity for the purpose of delivery of legal services to potential and your current clients. You have decided to do so in a creative way...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment