jordanfurlong + mdp + subsidiaries   1

Law Firm MDPs and New Delivery Models Part 2 – Subsidiaries | Rainmaking Oasis, LLC
 Several reasons that law firms set up these multi-disciplinary practices as separate subsidiaries are as follows:

They can be marketed separately to and engaged by non-clients of the law firm (but usually will be run through the law firm conflicts system).
Law firms can attract highly experienced, credentialed professionals to build and lead these businesses — these individuals often prefer not to become “employees” embedded within a law firm where they inevitably would not have the authority/control over their destiny, the partners would.
They are run as separate profit centers; in some cases, all law firm partners invest in and share in the profits of the subsidiary, in other cases, law firm partners may decide if they want to opt in.
In our research, we were able to find nearly 70 law firm subsidiaries in existence in the United States, although that number likely is low as we did not do a comprehensive search. Interestingly, this number has remained relatively steady in the last twenty years as firms have added or disbanded this form of MDP. The types of services offered by these subsidiaries is broad:
mdp  subsidiaries  innovation 
october 2017 by JordanFurlong

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