It is important for law firms to properly recognize and compensate and compensating each attorney for their contributions to each client relationship. It is crucial for law firms to evaluate the specific involvement of each attorney and determine fair credits based on their roles and responsibilities. This ensures that all attorneys are acknowledged and incentivized for their efforts, ultimately leading to a more harmonious and efficient working environment within the firm. By carefully considering these fundamentals, firms can establish a fair and transparent system for allocating origination credit and effectively managing client relationships.
A typical client account may be organized around various roles such as: Originating Attorney, Billing Attorney and Working Attorney. Since each of these attorneys play a different role in handling matters for the client, issues often arise in law firms, especially when it comes to law firm compensation.
After working with law firms for many years, one of the top issues I encounter is how much origination credit, if any, a Billing Attorney should receive for his or her role in a client account that he or she did not originate. Since many law firms are faced with such decisions, they should consider the fundamentals highlighted in the infographic below.