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It is common for a person seeking the services of a lawyer (attorney) to pay a retainer ("retainer fee") to the lawyer, to see a case through to its conclusion. [2] A retainer can be a single advance payment or a recurring (e.g. monthly) payment. Absent an agreement to the contrary, a retainer fee is refundable if the work is not performed. [3]
Retainer agreement, a contract in which an employer pays in advance for work, to be secured or specified later, when required; Domestic worker or servant, especially one who has been with one family for a long time (chiefly British English) Affinity (medieval), also Retinue, a person or group gathered around in the service of a lord
Firms marked with "(verein)" are structured as a Swiss association. These are estimates and equity partners can make vastly different salaries inside the same firm. [2] For more up-to-date information on the US firms in this list, please refer to Largest US Law Firms Ranked by Profits Per Equity Partner.
An attorney at law (or counsellor-at-law) in the United States is a practitioner in a court of law who is legally qualified to prosecute and defend actions in court on the retainer of clients. [1] As of January 1, 2023, there were 1,331,290 active lawyers in the United States. [ 2 ]
The duty is sourced from a combination of contract law and equity arising from the distinctive relationship between lawyer and client. The solicitor or attorney is an agent of the client under the law of agency. In contract, the duty arises from terms contained in the retainer agreement. Complementarily, equity prohibits unauthorised use or ...
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1]
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Law firms are typically organized around partners, who are joint owners and business directors of the legal operation; associates, who are employees of the firm with the prospect of becoming partners; and a variety of staff employees, providing paralegal, clerical, and other support services. An associate may have to wait as long as 11 years ...
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