How to Navigate the Gray Area of Partner Departures
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Law360, New York (October 19, 2010) -- Leaving a law firm is rarely easy, and differences among the states in the rules governing the process only serve to complicate matters. Here, legal experts share their thoughts on how to make a graceful exit that will leave everyone happy.
Partners don’t have any obligation to disclose preparatory departure arrangements — such as looking for a new space, incorporating or setting up a new entity, or interviewing with other firms — to their fellow partners, according to Geri S. Krauss, founding partner of Krauss PLLC and author of "Partner Departures and Lateral Moves: A Legal and Ethical Guide."
However, "if you as a partner know that the firm is about to do something for which they are relying on you to move forward, you need to let them know you're looking to leave," Krauss said. "And, if asked directly, a partner cannot lie to his or her partners."
Where it gets sticky is what happens once you’ve moved beyond those preliminary steps, she said.
“The law in this area is very limited,” Krauss said. “And to the extent that any state has spoken on these issues, not all have applied the same rules.”
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"How to Navigate the Gray Area of Partner Departures"
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