As an attorney, one of the ways to grow your practice and expand your legal services is by entering into an Of Counsel agreement with other law firms or attorneys. An Of Counsel agreement is a contractual relationship where an attorney or law firm agrees to provide legal services to another law firm or attorney on a case-by-case basis. This type of relationship allows both parties to share resources, expand their expertise, and grow their practice without having to merge or form a partnership.
If you’re considering entering into an Of Counsel agreement, it’s important to have a template agreement that outlines the terms and conditions of the relationship. Having a template agreement not only saves time and money but also ensures that all parties involved are clear about their roles, obligations, and responsibilities.
Here are some key clauses that should be included in an Of Counsel agreement:
1. Scope of services: This clause should clearly define the legal services that the Of Counsel attorney or law firm will provide. It should also specify the areas of law in which the Of Counsel attorney or law firm has expertise.
2. Duties and obligations: This clause should outline the duties and obligations of both parties, including deadlines, communication requirements, and conflicts of interest.
3. Compensation: This clause should specify how the Of Counsel attorney or law firm will be compensated for their services. This may include an hourly rate, a flat fee, or a percentage of the fees collected.
4. Term and termination: This clause should define the duration of the agreement and the circumstances under which either party can terminate the agreement.
5. Confidentiality: This clause should outline the confidentiality obligations of both parties, including the protection of client information and the non-disclosure of trade secrets.
6. Governing law: This clause should specify the governing law that will apply to the agreement and any disputes that may arise.
Using an Of Counsel agreement template can help ensure that all of these key clauses are included in your agreement and that it complies with local laws and regulations. It’s important to have the agreement reviewed by legal counsel before signing to ensure that it meets your specific needs and protects your interests.
In conclusion, an Of Counsel agreement can be a beneficial and cost-effective way to expand your legal services and grow your practice. By using a template agreement that covers all necessary clauses, you can ensure that both parties are clear about their roles, obligations, and responsibilities, and protect your interests.