Firm Governance, Buy-Ins, Buy-Outs, and Your Partner Agreement

How do your firm’s key decisions get made? How many partners must agree to move strategic issues forward? How will your practice be valued upon retirement? Is it the same for when a new partner buys in?

These often misunderstood aspects of a partnership become critical and sometimes divisive when firm changes cause you to apply them. In this session, we’ll explore things to consider when creating or updating your partner agreement and determining the governance of your firm where you will:

  • Identify the roles, responsibilities, and decision-making authority of the partners
  • Recall ways for determining buy/sell and retirement values
  • Understand the essential elements that should be included in all partner agreements

Leave this session with the key elements to include in your buy/sell and governance agreements to incent and reward the right partner behaviors for the firm.

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