how long do you want your firm to last?
by marc rosenberg
the rosenberg practice management library
two-thirds of partner agreements include a mandatory retirement provision. this provision usually requires partners to give up their equity but allows them to continue working in some fashion. a common stipulation is that if a “retired” partner wishes to continue working, either full- or part-time, this must be approved annually by the other partners. but with the covid crisis, annually may come sooner than expected.
more: three tough questions in partner buyouts | is mandatory retirement a best practice? | merging in sellers: what you need to know | take yoda’s advice on strategic planning
exclusively for pro members. log in here or 2022世界杯足球排名 today.
here are two opposing viewpoints on a mandatory retirement provision to consider the next time you review your partner agreement:
to read the full article
