Law Firm Partnership - Practice Test Geeks

Hiring partners from outside the standard path

Complicating the structure of the firm

Promoting lawyers based on years of experience instead of skill levels

Leaving non-lawyer staff out of the equation

Correct! Wrong!

Law firms don't provide legal services to individuals and corporations

They don't have to be a lawyer to work in a law firm

There are no jobs available to those who pursue a Master's in Legal Studies

They have to be a lawyer to work in a law firm

Correct! Wrong!

Limited liability partnerships

Multi-tiered partnerships

Two-tier partnerships

Sole proprietorships

Correct! Wrong!

There is no buy-in required

Partners have less power over firm decision making

Time and skill aren't always parallel paths.

Firms don't compensate equity partners

Correct! Wrong!

Firms will likely experience high turnover and low morale.

Partnerships can become more difficult to manage.

Lawyers can become overly focused on competition.

Profits may be lower than expected.

Correct! Wrong!

Alternative performance factors

Years of experience and billable hours.

Membership in the American Bar Association

Law review experience

Correct! Wrong!

More vacation days

Bigger paychecks

More prestige

The ability to assume more responsibility and directly engage with clients.

Correct! Wrong!