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Trial Skills Training For Your Practice June 3-9, 2013 NITA.org
 
Checklist for Starting a Law Practice

Prepare a Business Plan

  1. Executive Summary
    1. Mission Statement
    2. Description of Law Firm
    3. Firm Goals and Strategy
    4. Practice Areas
    5. Pro Bono Activity
    6. Financing Requirements
  2. Firm’s Description
    1. Ownership
    2. Decision Making and Operation
  3. Marketing Strategy
    1. Target Market
    2. Budget
    3. Local Economy
    4. Marketing Plan
    5. Current and Potential Clients
    6. Competition
  4. Firm Economics
    1. Start–up Costs
    2. Billing Projections
    3. Expenses
    4. Overhead Review
  5. Financial Plan
    1. Budget
    2. Financing Sources
    3. Break–even Analysis
    4. Financial Projections

Choose the Type of Entity

  1. Sole Proprietorship
  2. General Partnership
  3. Limited Liability Partnership
  4. Professional Service Corporation/Professional Association
  5. Professional Limited Liability Company

Office Space Considerations

  1. Geographic Location
  2. Competition/Cooperation
  3. Size
  4. Home Office
  5. Executive Suite
  6. Space Sharing

Accounting

  1. Meet with CPA
    1. Set up chart of accounts
    2. Establish accounting procedures
  2. Internal/External Dynamic
  3. Purchase Software
  4. Payroll Services

Open Bank and Trust Acounts

Effective August 1, 2010, D.C. Rule of Professional Conduct 1.15 was amended to make participation in the D.C. IOLTA program mandatory for D.C. lawyers who receive IOLTA–eligible funds, subject to certain limited exceptions. Rule 1.19 and Appendix B to the D.C. Court of Appeals Rules Governing the Bar were also deleted. Provisions from former Rule 1.19 and Appendix B are now located in new §20 of D.C. Court of Appeals Rule XI. For more information about IOLTA in the District of Columbia, go to: Opening an IOLTA Account Now that IOLTA is Mandatory in the District of Columbia

  1. Operating Account
  2. Trust Account
  3. IOLTA Account

Technology

  1. Software
    1. Word Processing
    2. Time and Billing
    3. Conflicts Checking
    4. Case Management
    5. Accounting System
  2. Hardware
    1. Telephone
    2. Computers
    3. Printers
    4. Scanners
    5. Copier
    6. Fax Machines
  3. Internet
    1. Internet Service Provider
    2. High Speed Internet, Cable vs. DSL
  4. Legal Research
    1. Westlaw, Lexis-Nexis
    2. Internet Only

Office Equipment, Services and Supplies

  1. Photocopier
  2. Postage Meter
  3. Furniture
  4. Telephone System
  5. Business Cards
  6. Announcement Cards
  7. Office Supplies

Insurance

  1. Professional Liability
  2. Workers’ Compensation
  3. Health Insurance
  4. Property and Casualty Insurance
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