All about law firms

What are law firms? There are professional lawyers, who are engaged in the practice of law. A group of lawyers collectively work under the law firm. There are different types of law firms, such as, Limited Liability Partnership (LLP), General Proprietorship, Sole Proprietorship etc. Each is different and unique. In sole proprietorship, a single person can avail benefits of his work and will be burdened with losses. In general partnership, profits as well as losses are divided among partners in the ratio previously decided. LLP is slowly getting popularity in India. In this type, no partner is liable to the creditor of the firm or the negligence of the other partner. As far as a liability is concerned, it is protected like a corporation, but taxed as a partnership Law tutor.

What are functions of law firms?
Due to the complexity of the laws and legislations in the country, a law firm is must for every company now-a-days. A law firm is must, when the business has expanded considerably. Their basic function involves advising clients on questions of laws. They are appointed to represent people and corporation in criminal and civil cases. A legal advice is needed in certain business transactions. Different nations have laid down laws, which govern law firms in their nations. Various provisions regarding managing these firms, amalagamations and mergers between two firms etc are prevalent in the law.
Goodwill of law firms

There are many factors, which determine the reputation of the law firm. They include, the efficienty and skill of lawyers, their expertise in handling matters of law etc. When a firm is established newly, it becomes a bit difficult for it to fetch clients. Gradually, it creates a name and goodwill for it in the market. New firms have to face the competition by well-established and well-reputed law firms. There is no replacement for hardwork. Also, with the diligence, firms have to win and retain faith of customers.

Selecting a right law firm:
The question is how to select a good law firm. The selection of law firm has to be wise. The one chosen should be able to represent you. One may find their advertisement in journals and newspapers. Most of the law firms have their website. They prefer to advertise using this technology. Hence those who seek a good law firm, may search online, as some great results might be waiting for them. Even though there are many advertisements, only credible should be selected among them. The most important factor to be taken into account is the cost factor. The amount to be paid and the mode of payment should be decided well in advance. For that, a meeting must be set up. Only after proper discussion, these things can be determined.