Introduction to Running a Law Practice as a Business
Grounded in the fundamentals of the functional areas of business, including marketing, human resources, and finance, this course is an overview intended to equip you with the knowledge, skills and competencies required for the successful management of a law practice. You will have discussions and be introduced to an overview of the key factors to consider in the structure and management of a law practice such as hierarchy of structure, what impacts profitability, key developments impacting the future of the legal service industry, and the regulatory framework underpinning the legal profession.
By the end of this module you will be able to:·
- List the principal business vehicles which are used by legal service providers when establishing a law firm
- Explain the structure of a ‘typical’ law firm by reference to the concept of ‘gearing’ and the hierarchy of partners, associates, articled clerks, paralegals and legal assistants
- Understand the overall administrative function and value of ‘typical’ law firm departments including marketing, human resources, professional development, finance and libraries
- List some of the key factors which can impact upon the profitability of a law firm including billable/non-billable hours and work-in-progress (WIP), and understand the means by which lawyers and their clients can agree to the level of and control of legal fees
- List some of the key developments which might impact on the future development of the legal services industry
- Understand the regulatory framework which underpins the work that lawyers do and the way in which they conduct their business
This module is part of the Law Practice Management program and can be taken as a stand-alone course which can also be applied as credit towards the full Certificate program.
For more information, or to register, please visit dal.ca/execed/lpm