Owners of professional practices are subject to the same important business decisions as any other business owner. Doctors, dentists, accountants, lawyers and owners of other licensed professional practices frequently call upon our attorneys to help them take as good care of their business as they are of their own patients and clients.
When setting up professional practices, our business attorneys assist clients with entity selection and formation, as well as with management and governance. When more than one person will be involved in ownership of the practice, our attorneys assist in designing appropriate business agreements that address issues ranging from buy-in methods to exit strategies. We work closely with our real estate attorneys to negotiate leases for office space and space-sharing agreements. As practices grow, owners may choose to add associate members. These changes require developing employment contracts, partnership tracks, non-competition agreements and compensation plans. We advise on employment issues such as employment manuals, workplace policies, hiring and termination procedures, as well as compliance with federal, state and local laws.
Finally, our business attorneys work closely with the owners in the sale of their professional practices.