Lateral Analysis and Negotiation Support

Successfully hiring lateral lawyers at any level is a challenge. Properly assessing cultural fit and client compatibility, and creating a fair compensation offer are the most important factors. Objective analysis and advice can support good decision-making and even remove any potential bias from the process.

Laterals who are evaluating whether to join a firm can also benefit from this same objective analysis and advice. Choosing the right firm often comes down to economic factors and it is important that both sides understand how the proposed lateral deal will work in practice.

Considering the factors relating to guaranteed income, draws, fee sharing agreements, bonuses, origination incentives, overhead contributions, and a host of other factors is much easier when professional assistance is retained. Our knowledge and experience on both sides of these transactions can improve the likelihood of a successful long-term relationship.

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Benefits

How can your deal improve with the help of outside assistance and what can PerformLaw do for you?

The Process

How does a lateral services agreement work?

Resources

Where can I learn more about the topics I might want advice about?

Benefits

The confidence of knowing you will receive objective feedback. Clients who engage PerformLaw for lateral services get objective, experienced, and practical advice about how to clarify expectations and improve the chances of long term success.

The ability to more clearly analyze your options and improve negotiating posture. All our tools, templates, processes, market awareness and creative plan design expertise are included in the engagement.

A solution for the long term. All our engagements are designed to raise the level of our clients knowledge and promote self-sufficiency.

The comfort of knowing that we are always available for follow-up support. We understand the assumptions and components related to a lateral agreement sometimes need tweaking. We are always available for follow-up support.

What PerformLaw can do for you:

  • We help clarify goals and expectations.
  • We consult on the best ways to achieve these goals and to ensure expectations are met.
  • We ensure clients have the information they need to make informed decisions.
  • We carefully document with examples the substance of our recommend approach.
  • We stay with our clients all the way through the process.
  • We are available when clients need us before, during and after an engagement.

THE PROCESS

INITIAL DISCOVERY & INFORMATION REVIEW

Information Request (Lateral Attorney)

Origination Stats by Lawyer and by Client (3 Years)

  • Billable Hours
  • Billable Value
  • Billing Rates
  • Billings and Collections
  • Non-Hourly Billing Agreement Details

Working Timekeeper Stats for All Included Timekeepers (3 Years)

  • Workload Distribution by Lawyer and by Client
  • Billable Hours
  • Billable Value
  • Billing Rates
  • Billings and Collections
  • Non-Hourly Billing Agreement Details

Support Personnel Payroll Stats

Compensation History

Minimum Draws Needed

List of Contingent Cases

Information Request (Firm)

Income Statement and Balance Sheet

Current Personnel

  • Payroll History
  • Partner Compensation Policies
  • Associate Compensation Policies

Incremental Overhead Expenses

  • Office Space
  • Accounting
  • Marketing
  • IT
  • Logistics

Recruiter Fees

LATERAL MODELLING

Financial Impact Assessment

Compensation

Overhead

Cash Flow

Revenue

Profitability

Risk Assessment

Best Case Scenario

Worst Case Scenario

  • Payroll Risk
  • Overhead Risk
  • Profitability Risk
  • Compensation Risk

Benchmarks and KPI's

DEAL NEGOTIATION

Lateral Intermediaries

Counter Proposal Models

Recommendations and Advice

Compensation Structure and Incentives

PROPOSAL & AGREEMENT DEVELOPMENT

Proposal Summaries

Preparation of Offer Letters

POST LATERAL SUPPORT

Compensation Calculations

Implementation Support

Issue Resolution

Resources

NOT SURE WHERE TO BEGIN?

Here are some of our most helpful resources to learn more about ..........

Knowledge Base

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