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Negotiated exit: Avoid the pitfalls of partner and team moves

Michelle Chance provides some pointers on how law firms on both sides can avoid the pitfalls of partner departures and team moves

28 February 2014

Various stories have hit the headlines recently of law firms holding departing partners to lengthy notice and garden leave periods. While this may have advantages from a cashflow perspective (as it enables firms to hold on to partners’ capital contributions for longer), it is rarely advisable from an HR, morale or partnership law perspective.

This article suggests a practical way forward for firms faced with partner departures. It also offers tips for recruiting firms on how to avoid disputes with new partners’ former firms.

Notice periods

There are a number of arguments that departing partners typically use to negotiate an earlier exit from their current firms than that contemplated by their LLP members’ or partnership agreement. These include:

  • it will not tak...

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