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Brothers, just brought in some litigation to the firm. About $900k in billables.

Am psyched. Not a litigator, so literally won't lift a fing...
Soggy gunner heaven
  03/23/17
congrats. what's the origination split between you and litm...
Racy Orchestra Pit Indirect Expression
  03/23/17
Its a client that I do transactional work for, but not litig...
Soggy gunner heaven
  03/23/17
you are being overly generous then. If it were a new clie...
Racy Orchestra Pit Indirect Expression
  03/23/17
I probably am being a little too generous, but that's what w...
Soggy gunner heaven
  03/23/17
"but after splitting origination with the litigator who...
Talented dragon
  03/23/17
Probably wouldn't have gotten it if I hadn't sold the lit pa...
Soggy gunner heaven
  03/23/17
the problem is that your greedy cunt partner would demand 50...
Racy Orchestra Pit Indirect Expression
  03/23/17
yeah, we used to be at 66/33....but he is really good at clo...
Soggy gunner heaven
  03/23/17
i think you did the right thing
Magenta shivering property
  03/23/17
180
orange alcoholic senate
  03/23/17
should pocket that $900K and file an offer of judgment to se...
motley cruel-hearted stage deer antler
  03/23/17
don't know what that means, but the damages are $20mm+
Soggy gunner heaven
  03/23/17
Tons of experts? Your client is getting hosed.
sick business firm pistol
  03/23/17
a good number of them.
Soggy gunner heaven
  03/23/17
Okay then. I hate $5-25 million dollar matters. They cost ...
sick business firm pistol
  03/23/17
unngh
Wonderful Really Tough Guy Church Building
  03/23/17
Does the litigator bring you tranny business? 11.1% of overa...
Thriller Spruce Menage Doctorate
  03/23/17
Not really, but I don't really need that much more business....
Soggy gunner heaven
  03/23/17
Sorry for the bump but just psyched about this. Hoping it w...
Soggy gunner heaven
  03/23/17
...
chestnut blood rage
  03/23/17
How did you "bring" it to the firm? Tranny client?...
snowy multi-colored crotch toilet seat
  03/23/17
tranny client. Came from my old firm, but been at current f...
Soggy gunner heaven
  03/23/17
Is this equity-in-cases policy just a handshake arrangement ...
snowy multi-colored crotch toilet seat
  03/23/17
formalized. There is a file sheet that shows the split of t...
Soggy gunner heaven
  03/23/17
Fuck don't know why I assumed you were an associate. Wtf are...
snowy multi-colored crotch toilet seat
  03/23/17
Not every day I bring in $900k of legal work on one day. I ...
Soggy gunner heaven
  03/23/17
180
Fighting Odious Pit Halford
  03/23/17
Nice
chocolate maniacal karate
  03/23/17
Congrats
diverse pozpig
  03/23/17
Ljl start your own firm faggot. Lol at giving 90% to some ki...
Electric Partner
  03/23/17
(NEET)
sick business firm pistol
  03/23/17
and just freestyle a litigation matter with $20mm in damages...
Soggy gunner heaven
  03/23/17
How big is your firm? How will compensation committee handle...
Filthy trailer park
  03/23/17
mid size I get 50% of the origination component, which is...
Soggy gunner heaven
  03/23/17
Uuunnngghghgh. Congrats brother!
Filthy trailer park
  03/23/17
thanks
Soggy gunner heaven
  03/23/17
Lol at that margin. What a fraud our profession is.
sick business firm pistol
  03/23/17
good or bad?
Soggy gunner heaven
  03/23/17


Poast new message in this thread



Reply Favorite

Date: March 23rd, 2017 2:07 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 2:08 PM
Author: Racy Orchestra Pit Indirect Expression

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)



Reply Favorite

Date: March 23rd, 2017 2:09 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 2:14 PM
Author: Racy Orchestra Pit Indirect Expression

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).

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898509)



Reply Favorite

Date: March 23rd, 2017 2:16 PM
Author: Soggy gunner heaven

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.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898540)



Reply Favorite

Date: March 23rd, 2017 2:11 PM
Author: Talented dragon

"but after splitting origination with the litigator who will manage"

Should have tapped dat senior associate to handle it.

Could have had $200k.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898483)



Reply Favorite

Date: March 23rd, 2017 2:12 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 2:14 PM
Author: Racy Orchestra Pit Indirect Expression

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)



Reply Favorite

Date: March 23rd, 2017 2:18 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 7:05 PM
Author: Magenta shivering property

i think you did the right thing

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901023)



Reply Favorite

Date: March 23rd, 2017 2:08 PM
Author: orange alcoholic senate

180

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898456)



Reply Favorite

Date: March 23rd, 2017 2:17 PM
Author: motley cruel-hearted stage deer antler

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)



Reply Favorite

Date: March 23rd, 2017 2:18 PM
Author: Soggy gunner heaven

don't know what that means, but the damages are $20mm+

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898559)



Reply Favorite

Date: March 23rd, 2017 7:22 PM
Author: sick business firm pistol

Tons of experts? Your client is getting hosed.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901152)



Reply Favorite

Date: March 23rd, 2017 7:31 PM
Author: Soggy gunner heaven

a good number of them.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901237)



Reply Favorite

Date: March 23rd, 2017 7:33 PM
Author: sick business firm pistol

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)



Reply Favorite

Date: March 23rd, 2017 2:19 PM
Author: Wonderful Really Tough Guy Church Building

unngh

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898571)



Reply Favorite

Date: March 23rd, 2017 2:20 PM
Author: Thriller Spruce Menage Doctorate

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)



Reply Favorite

Date: March 23rd, 2017 2:22 PM
Author: Soggy gunner heaven

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.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32898600)



Reply Favorite

Date: March 23rd, 2017 6:41 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 8:08 PM
Author: chestnut blood rage



(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901566)



Reply Favorite

Date: March 23rd, 2017 6:54 PM
Author: snowy multi-colored crotch toilet seat

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)



Reply Favorite

Date: March 23rd, 2017 6:55 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 7:01 PM
Author: snowy multi-colored crotch toilet seat

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)



Reply Favorite

Date: March 23rd, 2017 7:12 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 7:14 PM
Author: snowy multi-colored crotch toilet seat

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)



Reply Favorite

Date: March 23rd, 2017 7:30 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 7:02 PM
Author: Fighting Odious Pit Halford

180

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32900998)



Reply Favorite

Date: March 23rd, 2017 7:04 PM
Author: chocolate maniacal karate

Nice

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901016)



Reply Favorite

Date: March 23rd, 2017 7:06 PM
Author: diverse pozpig

Congrats

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901035)



Reply Favorite

Date: March 23rd, 2017 7:18 PM
Author: Electric Partner

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)



Reply Favorite

Date: March 23rd, 2017 7:22 PM
Author: sick business firm pistol

(NEET)

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901158)



Reply Favorite

Date: March 23rd, 2017 7:32 PM
Author: Soggy gunner heaven

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)



Reply Favorite

Date: March 23rd, 2017 8:17 PM
Author: Filthy trailer park

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)



Reply Favorite

Date: March 23rd, 2017 8:19 PM
Author: Soggy gunner heaven

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.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901681)



Reply Favorite

Date: March 23rd, 2017 8:22 PM
Author: Filthy trailer park

Uuunnngghghgh. Congrats brother!

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901710)



Reply Favorite

Date: March 23rd, 2017 8:30 PM
Author: Soggy gunner heaven

thanks

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901774)



Reply Favorite

Date: March 23rd, 2017 8:30 PM
Author: sick business firm pistol

Lol at that margin. What a fraud our profession is.

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901773)



Reply Favorite

Date: March 23rd, 2017 8:32 PM
Author: Soggy gunner heaven

good or bad?

(http://www.autoadmit.com/thread.php?thread_id=3561953&forum_id=2#32901785)