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If you`re considering joining a law firm as an of counsel attorney, it`s crucial to understand the agreement you`ll be entering into. An of counsel agreement is a contract that outlines your relationship with the law firm, including your responsibilities, compensation, and other terms.

Here are some key considerations to keep in mind when reviewing a law firm of counsel agreement:

1. Scope of Work

The of counsel agreement should clearly define the scope of work you`ll be performing for the law firm. This may include specific legal services you`ll provide, as well as any limitations or restrictions on your work.

2. Compensation

Your compensation as an of counsel attorney will likely be set out in the agreement. This may include a percentage of fees you generate, a flat rate for specific services, or some other arrangement. It`s important to carefully review the compensation structure and ensure it`s fair and reasonable.

3. Duration of Agreement

The of counsel agreement should specify how long your relationship with the law firm will last. This may be for a fixed term (e.g. one year) or an indefinite period. If there is a fixed term, it`s important to understand whether the agreement will automatically renew or require renegotiation.

4. Termination Provisions

It`s important to understand the circumstances under which the law firm can terminate the of counsel agreement, as well as the notice required for termination. Similarly, you should understand your own rights to terminate the agreement if necessary.

5. Confidentiality and Non-Compete Clauses

The of counsel agreement may also include confidentiality and non-compete clauses. These provisions may restrict your ability to work for other law firms or disclose confidential information about the law firm`s clients or operations. Make sure you understand the details of these clauses and how they might impact your future work.

In summary, a law firm of counsel agreement is a critical document that should be reviewed carefully before signing. By understanding the scope of work, compensation, duration, termination provisions, and other key terms, you`ll be better positioned to make an informed decision about whether this opportunity is right for you.