Binding Agreement on Law Firm Partner Departure Including Restrictive Covenants and Settlements
Partner departures pose existential risks to law firms through client poaching and knowledge gaps. The Binding Agreement on Law Firm Partner Departure Including Restrictive Covenants and Settlements preempts these via enforceable terms. Integrated into LLP or partnership deeds (e.g., under India's LLP Act, 2008), it mandates procedures, limits competition, and finalizes finances. Courts enforce such agreements when reasonable, preserving firm value. This article examines its enforceability, components, and applications.
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