Christine Soares's recent post Is Your Lateral Partner Subject to a "Jewel Waiver"? highlighted risks associated with hiring lateral partners fleeing from dissolving firms.
The unfinished business doctrine requires such partners to account to the dissolved firm and their former partners for fees generated on work in progress at the time of the dissolution UNLESS the partners contractually alter the status quo by including a waiver in their partnership agreement.
For more on the unfinished business doctrine, Jewel waivers, and lawyer mobility, check out Migratory Law Partners and the Glue of Unfinished Business by Douglas Richmond of Aon Risk Solutions, appearing in a recent issue of the Northern Kentucky Law Review. Doug's "next level analysis" provides an excellent overview of this area of the law.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.