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5 best practices.

by marc rosenberg

it’s often been said that disability is much harder to deal with than death, from the standpoint of firm governance. death is clear and finite. but disability is much more complicated and unclear.

more on partnership: when votes must be taken, what are the options? | why voting isn’t such a big deal | what’s in a (firm) name? | protect your business with a solid partner agreement
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1. what is the extent of the disability?
2. what is the likelihood that the partner can fully recover?
3. how long will the recovery take?
4. when the partner returns to work, is he or she capable of performing normal partner duties and working normal partner hours?

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is the firm’s life insurance up to date? probably not.

by marc rosenberg

it’s a tough question, but one that must be asked: in the event of a partner’s death, does the firm wish to accelerate the buyout?

more: when votes must be taken, what are the options? | why voting isn’t such a big deal | what’s in a (firm) name? | protect your business with a solid partner agreement
exclusively for pro members. log in here or 2022世界杯足球排名 today.

there are two ways to do so: accelerate vesting or accelerate the payment schedule.
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what about non-equity partners?

by marc rosenberg

voting is a highly overrated privilege of being a partner.

more: why and how new partners buy in | ownership percentage and capital accounts | 5 key reasons to have a partner agreement
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when you don’t have a vote, it seems desirous and enviable. it appears to be a very special privilege enjoyed only by the firm’s elite. having a vote is synonymous with ownership, power and prestige.
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