Introduction to Law: Law Firm Expansion Essay
When considering the expansion of the law firm, it is imperative to consider a number of different factors which could influence the success in new declares. Primarily, the firm should determine the precise state/states that shall be targeted along with an analysis of the disadvantages and hazards that exist pertaining to the company plus the strengths and opportunities which the company can easily utilize to make the most of them.
The extension of the organization has to be the one that its clientele can rely upon to provide them with the same credibility that they are comfortable with at the original establishment. In order to do so without the hindrances, it truly is highly essential to ensure that the firm will not come into discord with the regulations of the point out in which it can be planning to increase. This paper shall attempt to highlight some of the most essential factors that a law practice should consider once expanding in the US. With regards to expansion in multiple states in the US, the firm needs to pay special attention to salary allocation strategies, determining existence and nexus, sales tax upon professional services and personal property tax and others (Quinn, 2007).
Each condition has certain laws with regards to these parts of business businesses with respect to lawyers. Laws that influence these elements are designed to address the process of contracting parties to compliment the enlargement and to allow the law firm to adapt to the legal and taxing system. Also, it is just as essential to consider regulations that have implications on the diamond of external parties in the state where firm can be considering expansion.
Taxing laws and requirements defined in state laws and regulations are to be given special concern in this regard simply because they may in order to dictate the very policy which the firm decides to adopt in the expansion.