A common misconception is that lawyers must be competent managers due to their extensive education and professional expertise. In regards to corporate governance, a legal practice operates in a similar manner to any business or medical practice. There is an established system through which the business is directed and controlled. Corporate governance specifies the distribution of rights and responsibilities amongst the various participants of the firm, practice or business. Often, outside assistance is sought in order to facilitate the highest levels of compliance to regulatory requirements, fiduciary responsibilities and other practical applications of governance. A law firm stands to benefit from the assistance of Clarior Law to refine their corporate governance practices and maintain a high level of operational efficiency.
Michael Steck - JD Business, Non-Profit and Estate lawyer