Can an Associate be involved in multiple business ventures?

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udonisandtrinity
Posts: 192
Joined: Mon Jan 31, 2011 3:01 pm

Can an Associate be involved in multiple business ventures?

Postby udonisandtrinity » Tue Dec 03, 2013 6:04 pm

I am a 3L who secured a job at a boutique firm in their corporate and securities practice. All throughout law school, I've been the sole managing member of a profitable LLC and I don't intend to dissolve this entity any time soon. I'm also involved as a member of another LLC that is a tech-startup (we just raised 4.5mm). No conflict between the two LLCs, however, as a practicing attorney, am I allowed to have an active role in different businesses while working for a limited liability partnership? The firm knows about it and it's really the reason they hired me, so I guess it is fine to continue working on these side businesses ventures while grinding as an associate?

Liam
Posts: 55
Joined: Tue Aug 27, 2013 6:34 pm

Re: Can an Associate be involved in multiple business ventures?

Postby Liam » Tue Dec 03, 2013 6:26 pm

There is nothing presumptively unethical about being involved with business ventures outside of your firm—plenty of attorneys serve on the board of directors for Fortune 500 companies (Shill Alert: the Georgetown Law Journal actually has a forthcoming piece about this). Assuming the firm is aware that you plan to continue your involvement, the only problems are with potential conflicts if your firm takes work from competitors.

udonisandtrinity
Posts: 192
Joined: Mon Jan 31, 2011 3:01 pm

Re: Can an Associate be involved in multiple business ventures?

Postby udonisandtrinity » Tue Dec 03, 2013 6:59 pm

Thank you.

Do you mind messaging me or replying to this thread when that article is published?

Liam
Posts: 55
Joined: Tue Aug 27, 2013 6:34 pm

Re: Can an Associate be involved in multiple business ventures?

Postby Liam » Tue Dec 03, 2013 7:03 pm

There is already a URL carved out for it here, although the piece is focused more on the characteristics of what companies tend to have lawyer-directors, and which benefit the most from lawyer-directors, than on the ethical issues of being a lawyer-director.




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