Partners should be allowed to work past mandatory retirement age ONLY if they continue adding value to the firm. ALSO: Six agreement provisions that often are outdated.
By Marc Rosenberg
The Role of the Managing Partner
When the managing partner’s job is discussed, their role in the firm’s partner agreement is rarely mentioned. Perhaps in the overall scheme of things, it’s not as important as revenue growth, profitability and staff development, among many others. But it’s still critically important.
MORE: How Long Should It Take to Make Partner? | How a Good Managing Partner Impacts Profitability | How a Great Managing Partner Impacts Firm Growth | Compensation Is No Way to Manage Partners | Clarify Partner Expectations | Exceptional Managing Partners Offer Their Advice
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If there is one person in the firm responsible for safeguarding the firm’s assets – its clients, people, proprietary data and practices, reputation and value – it’s the managing partner. And the most important way he or she does that is by enforcing a solid partner agreement.
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