LawPedia® Law Firm Profiles

Law Firms
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service of law firm is to advise clients (individuals or corporations) about their legal problems, rights, liabilties and responsibilities, as well as to represent their clients in civil or criminal cases, and proceedings before other government agencies. Smaller firms tend to emphasize particular specialties of the law (e.g. family law, business law, bankruptcy, patent law, labor law, or tax law); larger firms are typically composed of multiple specialized practice groups, which allows the law firm to diversify its client base and market, and to offer a variety of services to its clients. Law firms may be organized in a variety of ways, which may depend on the jurisdiction in which the law firm practices. Common arrangements include: Sole proprietorships, in which one attorney is the law firm and responsible for all profit, loss and liability; General partnerships, in which several of the attorneys in the firm share ownership, workloads, and liability; Professional corporations, in which the attorneys own stock or shares similar to that of a business corporation; Limited liability company, in which the attorney-owners are called "members" but are not directly liable to third party creditors of the law firm; Professional associations, which operate similarly to professional corporations or limited liability companies; and the Limited liability partnership (LLP), in which attorney-owners are called "partners", but are not directly liable to third party creditors of the law firm, except in certain limited circumstances.

Regardless of the form of business entity of the law firm, however, the general rule, followed by the American Bar Association and adhered to in almost every jurisdiction in the United States at least, only lawyers may have an ownership interest in the firm.

LawPedia® is in the process of publishing its rankings of Top 100 Law Firms. We currently have nominations under consideration in the following categories: Worldwide; National; Largest; Best; Growth Firms; Special Interest; and Merit. LawPedia® is collecting Law Firm profiles from various sources. If you would like to submit a Law Firm profile or nomination, please contact LawPedia®.

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