Wednesday, October 30, 2019

Management of Law Office Assignment Example | Topics and Well Written Essays - 750 words

Management of Law Office - Assignment Example There are several forms of business organizations that a person may venture into among them sole proprietorship, partnerships, limited liability partnerships, law corporations and group law practices.Each of these forms has their own specific differences, as well as, the features upon which each can be evaluated so as to suit the organizational needs of Ms Seow. In this paper, I seek to discuss in brief these forms and then select on one upon which I shall make a recommendation about and the justifications for the same. In a sole proprietorship, a person decides to operate on a particular business venture on their own. The main advantage with this form is that one gets the opportunity to manage and enjoy the profits/benefits from the business alone. However, the costs are enjoyed alone as well which may be detrimental. However, this form would not be essential for Ms Seow considering the nature and form of organization and clientele she serves (Roper, 2007.p.85). On the other hand, a partnership would be when she joins hands with another lawyer and pools resources and clientele base together. In such an arrangement, the benefit would arise from the fact there will be shared responsibility in terms of management and even sourcing of capital for the firm. This arrangement would appear essential considering the financial challenges faced by Ms Seow’s firm. Above all, there are joint deliberations in the making of decisions thus, ensuring their concreteness. However, this would not seem feasible as the same has not worked with the current partnership with Mr. How. Consequently, this form of business may prove unproductive taking into consideration the likely disagreements that may arise between the partners or even the fact that they will be subjected to unlimited or limited liability based on the nature of the partnership. Additionally, a partnership in spite of being flexible and allowing for sharing of losses will also involve the sharing of profits by th e partners. This seems to be the case of Ms Seow in which case the options to her appear as though she should part ways with Mr. How. In the case of a law corporation, the situation facing Ms Seow and her law firm may not prove fruitful. This is because law corporations are usually considered as large scale operational units. Usually, the institutional set-ups as, as well as the structural nature of such may not warrant the organisation run by Ms Seow to be classified as such. This is considering that Ms Seow for one has limited office space, limited number of staff, and above all limited, or inadequate capital to finance her firm’s operations. This is worsened by the ideal situation of the market in which due to the competition, the profits levels have decreased hence, lawyers are not able to make many earnings in the business. For instance, Mr. How, despite being specialised in conveyancing, the same poses a major challenge in the face of the stiff competition with most fir ms opting to charge lower fees (Nollkamper, 2013.p.205). In all these situations, the most feasible and achievable option for Ms Seow and her law firm that will also ensure the achievement of enhanced profitability would be to engage in a Group Law Practice. As the adage goes, ‘there is strength in numbers.’ As such, it would be beneficial for Ms Seow to enter into a Group Law Practice with other firms of similar sizes and enjoy the benefits of extended employees’ network. Group Law Practices are continuously providing effective strategies through which the demands in the ever evolving law demands can be met. As has been reasoned by most seasoned lawyers in private practice, the strength in the seasoned legal bench enables the firms to offer an extensive assortment of services to customers. This is so because group law practice will enable Ms Seow to build a team of sophisticated and dedicated lawyers with diverse knowledge on the benefits of the clients. Clearly , this seems to be much possible

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