Master’s program training course “Managing a Legal Practice” in the Higher School of Economics continues with the second meeting devoted to the topic of “Partnership”. The summary is provided by Sergiy Konovalov.
This time the group of students and graduates from Higher School of Economics dived into the subject of “Partnership”.
Let me put a famous saying into business context: “tell me who your partners are and I will tell you if you are a successful businessman”. It is true that building an effective business partnership in legal practice is one of the key criteria for the firm’s profitability.
During the three hours of the class we did go very deep both in terms of information and self-reflection. We have touched base on the following issues:
1. Philosophy of partnership. Why the partners are needed and how to select them based on the chosen strategy of the firm’s development.
2. Functions of a partner. Sergey Saveliev provided good examples from his own experience on how the partners can compliment each other when building the business. The test on identifying the level P,Е,А,I is highly recommended.
3. Life cycle of an organization, potential “pit holes” at every stage and management actions for successful transition through the crisis situations.
4. Content of partnership agreement. Pros and cons of existing partnership formulas.
It was awesome! I am glad that I had a chance to be a part of this great course. Thank you!