Gone are the days where lawyers had their solo practices. In todays’ modern world, lawyers often team up and form law firms which eventually become quite successful with high revenue.
The main reason people hire lawyers from these law firms is to get expert advice on legal issues and to get information regarding their rights. It also comprises lawyers who represent their clients, be it an individual or an organisation, in various criminal and civil cases. In many cases, law firms also help and provide support in building the company’s business and increase their revenue as well.
Well established law firms often do not limit themselves in having clients in their own countries only and branch out to overseas organisations in order to represent them on international cases as well. This not only increases the revenue for the firm but also spreads the name of the organisation on a global platform.
Difference between Group Practice and a Law Firm
Group practices are yet another organisation which provide legal aid to people and companies. The main difference between a group practice and a law firm is that in a group practice, the lawyers are neither employees nor partners in the team. All of the appointed lawyers are self-employed and act as individual lawyers and carry out their practice solo.
The Essex Court Chambers Duxton is an example of a group practice. It is one of the leading names in proving legal aid to its clients. Based in Singapore, this organisation boats of having a team of remarkably professional lawyers who are well adept in cases involving corporate or financial law, civil, commercial law.
Some of them even represent people and corporations in matters relating to criminal law. They provide excellent attorneys who bring out the best result suited to the advantage of the customer. They carry out national and international cases with the best outcomes. They are slowly becoming the leading brands in this field around the world.
Having a group practice is quite difficult as one needs to collect a team of brilliant lawyers, each with their own way of perspective on the letter of the law. With different lawyers practicing different forms of law, the brand will eventually expand to different sectors of the legal world.
In huge and successful law firms like Essex Court Chambers Duxton, lawyers are hired with retainers, which is basically a constant source of financial aid given by the client in exchange for their legal services. In group practices, retainers are usually lesser factor compared to salary given per case.
In group practice, one of the biggest problems is the size of the company. With more lawyers, each versatile in their own way, one can build a pretty well established brand in legal aid.
Thus, we see that group practices are quite a successful and brilliant option I contrast to a law firm. Managing the group practice is a tough job because of the presence of so many different lawyers from different educational backgrounds. With the right effort, one can easily become the biggest entities in the lead world.