Of Counsel Agreements

Of counsel agreements are becoming more common in the legal industry as law firms seek to expand their expertise and services to clients. These agreements allow lawyers who are not practicing full-time at a firm to provide legal services to the firm’s clients on a part-time or occasional basis.

The term “of counsel” typically refers to a senior attorney who provides legal advice and guidance to the firm’s clients. This attorney may not have an ownership stake in the firm, but is considered a valuable asset due to their experience and legal knowledge.

Of counsel agreements can benefit both the law firm and the attorney. For the firm, it allows them to expand their services and expertise without the financial commitment of hiring a full-time attorney. It also provides the firm with access to a valuable resource in the of counsel attorney.

For the attorney, it can provide a flexible work arrangement while still allowing them to use their legal skills and stay connected to the legal community. It also provides an opportunity for the attorney to market their skills and expertise to potential clients through their affiliation with the law firm.

Of counsel agreements should be drafted carefully to ensure that the rights and responsibilities of both the firm and the attorney are clearly defined. These agreements should outline the scope of the attorney’s work, the terms of compensation, and any conflicts of interest that may arise.

In addition to being a valuable asset for law firms, of counsel attorneys can also help clients by providing specialized legal services that may not be available within the firm. This can include expertise in a particular area of law or experience working with a specific industry.

Overall, of counsel agreements can provide a flexible and cost-effective solution for law firms seeking to expand their services and expertise. By carefully drafting these agreements and selecting the right of counsel attorney, law firms can benefit from increased resources and expertise while also providing clients with specialized legal services.