Standard referral compensation arrangements?
Posted: Thu Jun 25, 2020 2:32 am
I'm interested in hearing how you handle referrals to or from other attorneys from a compensation standpoint. Is a percentage of the revenue generated upon completion more common or simply "selling" the case outright independent of outcome?
I'm in California and I understand we are one of the few states to allow lawyer to lawyer comp for referral only when the referring attorney is not remaining on the case or otherwise materially participating. Particularly for those in CA, how does this fit into your practice? I would imagine even if you're an estate planning or family law guy, you're not going to want something out of your specialty to go to waste, such as a large PI case.
How does the negotiation process work and what are any "norms."
If affiliated with a firm, does your employer restrict such outside referral only behavior or require a portion of the revenue themselves?
I'm very interested in this possibility as someone who's been inactive with a real estate broker's license for years but still occasionally doing fairly lucrative referral business without even trying.
I'm in California and I understand we are one of the few states to allow lawyer to lawyer comp for referral only when the referring attorney is not remaining on the case or otherwise materially participating. Particularly for those in CA, how does this fit into your practice? I would imagine even if you're an estate planning or family law guy, you're not going to want something out of your specialty to go to waste, such as a large PI case.
How does the negotiation process work and what are any "norms."
If affiliated with a firm, does your employer restrict such outside referral only behavior or require a portion of the revenue themselves?
I'm very interested in this possibility as someone who's been inactive with a real estate broker's license for years but still occasionally doing fairly lucrative referral business without even trying.