Collateral Damage

The prospect of adding a new attorney to the mix is exciting – for your firm culture and potentially your bottom line. While a prospective candidate might look great on paper and interview well, it is crucial to properly vet them to ensure their arrival does not prompt a legal malpractice claim or result in unintended financial losses for the firm. Lateral hiring, rather than bringing on new associates who require extensive training, can prove to be profitable and a great way to add the legal talent you need to serve your client base. The days of an attorney staying at one firm for their entire career are long gone. According to a recent Thomson Reuters report, nearly 25% of large law firm associates left their firms in 2021. With so many attorneys now on the move, the applicant pool is full of potential candidates. So, what are the risks?

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