Within a business, there are few things worse than getting slapped with the dreaded lawsuit. Not only are lawsuits expensive, but they can be time-consuming, draining and frustrating. So how do you avoid one?
While much that is written about malpractice claims is applicable to all lawyers, solo attorneys should also understand the unique malpractice dangers of their practice.
It's hard to deny that technology is a vital part of any law practice. While technology has made the practice of law far easier, it has also added a layer of risk. In order to manage this risk, it is very important for all attorneys to protect themselves from common "e-lawyering" mistakes.
Napoleon once observed that he spent 10% of his time fighting his enemies and 90% fighting with his allies. Lawyers should carefully manage the relationships with their clients to avoid such battles.
One of the most challenging aspects of running a law firm involves the conflicts check. This challenge is amplified when there are multiple parties and misperceptions about the attorney's duty to each party. The key in handling murky conflict matters involves setting appropriate expectations.
If you're a good lawyer, you won't get sued for malpractice. This belief may be comforting, but it's a myth. Good (and bad) lawyers get sued. There is no simple way to predict if your client will sue you for malpractice. In fact, risk management begins as soon as a person becomes a potential client.
Jurisdictions vary on the whether attorneys are required to carry malpractice insurance, but commonsense weighs strongly in favor of always carrying malpractice insurance, regardless of your state's requirements.
Before you buy your malpractice insurance policy, you must understand common malpractice insurance terms. While many of these terms may be familiar to you from other insurance policies, certain terms are unique to malpractice insurance.
To insure against the risk of legal malpractice, attorneys and law practices often get legal malpractice insurance. However, thinking about malpractice insurance coverage as a means to mitigate risk raises several important issues.
Before you consider buying malpractice insurance, it is important to understand the basics of insurance.