Starting Your Own Law Firm: A Nuts & Bolts Primer

 

Do you dream of owning a solo practice, but don’t know where to start? This half-day program offers you a basic understanding of what it takes to own your own practice – from the various business entity choices to choosing office space and attracting new clients. Topics include: setting up bank accounts; EIN numbers; general accounting information; tax concerns; setting up IOLTA accounts; managing trusts; client retainer agreements and intake forms; collecting payments; leaving your old firm; handling referral business; the ethical issues of using the Internet to market your practice; social media considerations; increasing your list of contacts; and much more. The information presented throughout this seminar will empower any attorney who has ever wanted to start their own practice to take the steps toward branching out on their own!

 

 

 

 

This comprehensive overview provides a primer on the various business entity choices available to those looking to start their own practice, including: Limited Liability Company (LLC), Limited Partnership (LP), and Professional Corporation (P.C.). Get the information you need regarding EIN numbers, setting up bank accounts, and general accounting. The pros and cons of each business entity choice – as well as the tax consequences for each option – are also discussed.

 

This segment explores several office space options for attorneys, including where to set up your new practice, renting space, working from home, sharing an office with a partner, and taking advantage of larger business offices. Insights and advice from both a practicing attorney and a Chicago real estate broker are included throughout the discussion.

 

This informative presentation helps you start your new practice off on the right foot! Topics include setting up an IOLTA account, required paperwork, managing trust accounts, case law that impacts law firms, new laws on IOLTA accounts, and much more.

 

2:45 – 3:00 p.m. Break (refreshments provided)

 

What do you want to learn from your potential client before agreeing to take the case? This session discusses handling client intake, protecting yourself through retainer agreements, collecting payment, and dealing with non-paying clients (that you need). Case law updates regarding retainers are also provided.

 

Explore the ins-and-outs of leaving your old firm with this informative segment. Topics include: giving notice, telling your clients, taking clients with you, the do’s and don’ts of handling referral business, and referral agreements.

 

This panel discussion focuses on several networking issues – from marketing yourself through the Internet and using social media to networking at legal/non-legal events – and shows you how to professionally and ethically attract new clients and increase your list of contacts.