You’ve decided to launch your own business resolute in the belief that you’re bringing a much-needed solution to the market. So what's next?
Starting a law firm can feel overwhelming when trying to navigate all the different aspects you need to think about and knowing where to find the support you need, so it’s easy to put it off for another day…year…decade.
Research has found that people with tattoos are no less likely to be employed than those without ink and that average earnings are the same for both groups. However, as a heavily tattooed lawyer in the U.K., this doesn’t reflect my experience of how tattoos are viewed in the legal industry, and I know I’m not alone.
The legal profession is old-fashioned, outdated and creaking under the weight of conservative traditions. According to the IBA Young Lawyers report, 20% of young lawyers want to leave the profession entirely, while a census wide report indicates 39% of law firm partners are eager to found their own firms. The writing's on the wall: It's a profession crying out for change.
Directors are subject to a fiduciary duty to act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. But how do we define success? Whilst success will generally mean a long-term increase in value, fundamentally, it is up to each director to decide, in good faith, whether it is appropriate for the company to take a particular course of action.