In a recent court case in Maryland, a departure contract agreement regarding attorney contingent fees managed to withstand a lawsuit. The agreement in question had been inked between a law firm, Ashcraft & Gerel LLP, and an attorney of the firm, Jamie Bennett.
The court found that this agreement did not contravene the Maryland Attorneys’ Rules of Professional Conduct, based on the ABA Model Rules. The departure contract, often referred to as a “prenuptial agreement” in legal jargon, sets the standard for a division of fees that would ensue upon an attorney’s departure from a firm.
The court sighted that this agreement was a “reasonable forecast” of what the division of fees would look like, based on the reasonable value of services rendered. This judgment opens potential pathways regarding the legality of similar pending and future agreements.
To gain more insights, access the original article here.