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Brothers, just brought in some litigation to the firm. About $900k in billables.
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Date: March 23rd, 2017 2:07 PM Author: sexy electric furnace halford Am psyched. Not a litigator, so literally won't lift a finger, but after splitting origination with the litigator who will manage, will make an extra $100k in 2017. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898449) |
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Date: March 23rd, 2017 2:08 PM Author: Maniacal plum kitchen congrats. what's the origination split between you and litmo? Is this the only work done for the client? (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898459) |
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Date: March 23rd, 2017 2:09 PM Author: sexy electric furnace halford Its a client that I do transactional work for, but not litigation (until now). I'm splitting 50/50. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898473) |
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Date: March 23rd, 2017 2:14 PM Author: Maniacal plum kitchen you are being overly generous then.
If it were a new client contact of yours where the only thing so far is this lit deal and you need the litigator to bring the client in, then 50/50 is appropriate.
If this is your ongoing client with a matter unrelated to your practice area, you should not have to split origination but the generous thing to do is throw 25% to the litigator.
Without being too greedy you want to keep enough control over origination so that when the client asks the litigator for tax advice, the litigator does not receive any origination for that and you control the split with the tax lawyer (if any). |
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Date: March 23rd, 2017 2:16 PM Author: sexy electric furnace halford I probably am being a little too generous, but that's what we agreed to on a previous split. And the lit guy did help bring in the client for lit (I certainly couldn't sell us myself given how little I know about lit).
I would never share origination for anything other than lit. |
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Date: March 23rd, 2017 2:11 PM Author: rebellious cobalt hissy fit abode "but after splitting origination with the litigator who will manage"
Should have tapped dat senior associate to handle it.
Could have had $200k. |
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Date: March 23rd, 2017 2:12 PM Author: sexy electric furnace halford Probably wouldn't have gotten it if I hadn't sold the lit partner. I'd rather give the split and not worry about it anymore. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898495) |
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Date: March 23rd, 2017 2:14 PM Author: Maniacal plum kitchen the problem is that your greedy cunt partner would demand 50/50 to service a firm's client. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898518) |
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Date: March 23rd, 2017 2:18 PM Author: sexy electric furnace halford yeah, we used to be at 66/33....but he is really good at closing the deal with the client once I make the intro, and is a great lawyer, so I am nice. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898554) |
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Date: March 23rd, 2017 7:05 PM Author: motley flirting rigpig i think you did the right thing (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901023) |
Date: March 23rd, 2017 2:08 PM Author: Peach den 180 (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898456) |
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Date: March 23rd, 2017 2:17 PM Author: Buff Whorehouse should pocket that $900K and file an offer of judgment to settle. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898550) |
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Date: March 23rd, 2017 2:18 PM Author: sexy electric furnace halford don't know what that means, but the damages are $20mm+ (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898559) |
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Date: March 23rd, 2017 7:22 PM Author: Lascivious Avocado Rehab Dopamine Tons of experts? Your client is getting hosed. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901152) |
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Date: March 23rd, 2017 7:31 PM Author: sexy electric furnace halford a good number of them. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901237) |
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Date: March 23rd, 2017 7:33 PM Author: Lascivious Avocado Rehab Dopamine Okay then. I hate $5-25 million dollar matters. They cost the same as $100 million. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901273) |
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Date: March 23rd, 2017 2:19 PM Author: diverse prole unngh (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898571) |
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Date: March 23rd, 2017 2:20 PM Author: Comical ticket booth Does the litigator bring you tranny business? 11.1% of overall billables sounds like a fucking ripoff. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898581) |
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Date: March 23rd, 2017 2:22 PM Author: sexy electric furnace halford Not really, but I don't really need that much more business.
Yes, I agree....people complain in the my firm about how lit mo's ride trannies, but they are all really good lawyers, so somehow we put up with it.
Best you can hope for is 23-24% in my firm, so not working with much. |
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Date: March 23rd, 2017 6:41 PM Author: sexy electric furnace halford Sorry for the bump but just psyched about this. Hoping it will be even more than $900k (assuming we win)....and they do a great job that leads to more work.... (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32900809) |
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Date: March 23rd, 2017 8:08 PM Author: stirring beta indian lodge mediation (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901566) |
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Date: March 23rd, 2017 6:54 PM Author: Razzle Out-of-control Antidepressant Drug Juggernaut How did you "bring" it to the firm? Tranny client? Did u meet the client at your current or a former firm (if you have a former firm)? (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32900907) |
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Date: March 23rd, 2017 6:55 PM Author: sexy electric furnace halford tranny client. Came from my old firm, but been at current firm for 4+ years and they have been with me. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32900921) |
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Date: March 23rd, 2017 7:01 PM Author: Razzle Out-of-control Antidepressant Drug Juggernaut Is this equity-in-cases policy just a handshake arrangement or formalized (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32900987) |
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Date: March 23rd, 2017 7:12 PM Author: sexy electric furnace halford formalized. There is a file sheet that shows the split of the origination credit for when the accounting manager calculates PPP splits. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901079) |
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Date: March 23rd, 2017 7:14 PM Author: Razzle Out-of-control Antidepressant Drug Juggernaut Fuck don't know why I assumed you were an associate. Wtf are bragging about if ur a partner (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901098) |
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Date: March 23rd, 2017 7:30 PM Author: sexy electric furnace halford Not every day I bring in $900k of legal work on one day. I am happy if I bring that much in in one year. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901234) |
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Date: March 23rd, 2017 7:02 PM Author: Aromatic parlor 180 (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32900998) |
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Date: March 23rd, 2017 7:04 PM Author: Contagious tanning salon Nice (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901016) |
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Date: March 23rd, 2017 7:06 PM Author: Silver French Nowag Congrats (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901035) |
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Date: March 23rd, 2017 7:18 PM Author: mahogany becky Ljl start your own firm faggot. Lol at giving 90% to some kike partner (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901121) |
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Date: March 23rd, 2017 7:22 PM Author: Lascivious Avocado Rehab Dopamine (NEET) (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901158) |
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Date: March 23rd, 2017 7:32 PM Author: sexy electric furnace halford and just freestyle a litigation matter with $20mm in damages at stake on my own with no litigation skills? TBF, I own some of the firm, just not the whole thing.... (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901251) |
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Date: March 23rd, 2017 8:17 PM Author: slippery theatre generalized bond How big is your firm? How will compensation committee handle? What is general split between billables worked and billables originated ? (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901661) |
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Date: March 23rd, 2017 8:19 PM Author: sexy electric furnace halford mid size
I get 50% of the origination component, which is about about 24% of revenue (so about 12%)
about 46% of revenue goes to the equity partners doing the work
about 30% of revenue goes to overhead
No compensation committee. Its all just percentages. |
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Date: March 23rd, 2017 8:22 PM Author: slippery theatre generalized bond Uuunnngghghgh. Congrats brother! (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901710) |
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Date: March 23rd, 2017 8:30 PM Author: sexy electric furnace halford thanks (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901774) |
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Date: March 23rd, 2017 8:30 PM Author: Lascivious Avocado Rehab Dopamine Lol at that margin. What a fraud our profession is. (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901773) |
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Date: March 23rd, 2017 8:32 PM Author: sexy electric furnace halford good or bad? (http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901785) |