By Mark Francis
In any field, a single person working alone will not be able to accomplish much. It takes a team to build anything of astronomical abilities. The field of law is no exception to this well known fact. That is how law firms were born. A law firm consists of a group of lawyers who engage in law practices. Such firms are easily approachable by clients for various criminal cases, civil rights cases, property rights case and any other legal case.
Now there are several types of law firms depending on the kind of proprietorship it is built upon. Sole proprietorship is the one where the law firm has only one partner, the attorney who has founded the firm. Professional association is the one where a group of people work aiming towards one single goal. Limited liability is when there are more than one members of the firm. General partnership is when all the members of the firm own the same or equal stake or ownership rights. While the associations and proprietorship patterns with law firms are very similar to those of any other business, the difference lies in the fact that with law firms, only lawyers can be taken as partners (with accordance to the law stated by American constitution). Therefore, in cases where the firm needs to sell or transfer stocks or shares to other company, it becomes extremely complicated.
Now law firms can be small or large in size. Both small and large firms have their own advantages and disadvantages. While smaller firms have few partners, hence they are able to bag in larger share of profits; they also have the disadvantage in terms of shouldering more liabilities. In bigger firms, though the profits shared become less in percentage due to several partners, the advantage they gain over smaller firms is that they have to shoulder lesser liabilities as there are more partners to take the responsibility.
The birth of law firms can be dated back to the American civil war when the United States first introduced the concept of a law firm consisting of more than one lawyer. This concept then spread among different countries and today, almost every country encourages this concept. Law firms are not always business oriented and in some cases, there are law firms that fight for social causes and stop the poor being affected. The social causes can range from improper functioning of road traffic to the improper functioning of certain departments concerned with the government. These law firms take up offences that go unreported, but affect the public at large.
Law firms these days increasingly focusing on social causes. More and more law firms these days are working on charity basis, fighting for those poor people who are unable to defend themselves. What began as a trend has now found a new voice and the world is benefiting from the same.
To learn more about law firms how it benefit you to approach a Law firm than a individual attorney, visit the Law firms link
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Topics: Legal | Comments Off
MLA Style Citation:
Francis, Mark "Law Firms." Law Firms. 27 Jun. 2010. uberarticles.com. 19 Oct 2015 <http://uberarticles.com/legal/law-firms/>.
APA Style Citation:
Francis, M (2010, June 27). Law Firms. Retrieved October 19, 2015, from http://uberarticles.com/legal/law-firms/
Chicago Style Citation:
Francis, Mark "Law Firms" uberarticles.com. http://uberarticles.com/legal/law-firms/
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