Module 3
Structure, regulation and risk: the foundations you cannot skip
Most firms that fail do so for reasons of money and clients. The firms that are closed by their regulator, or that make a client suffer, fail for reasons in this module: a client-money breach, a missing insurance policy, an unchecked identity, an undisclosed conflict, a promise of confidentiality that systems could not keep. None is glamorous, and all are cheaper to get right at the start than to repair later. This module sets out the foundations: the legal structure and what it means for liability and tax, professional indemnity insurance, client money, identity and money-laundering checks, conflicts, data protection and confidentiality, engagement terms, complaints and records, and a checklist to complete before the first client instructs you. Rules differ greatly between countries, so treat what follows as a map of the questions, and find the answers in your own regulator’s current rules and from a qualified adviser.
Module 1 of this course is free, and this is not it. Unlock the whole course below, or go back to the course page.
Two Ways In
Introductory PriceStarting a Law Firm: buy it on its own, or get it with All-Access
Unlock all of Starting a Law Firm on its own with a one-time purchase, or get it as part of an All-Access Membership, which also covers every course and the other paid tools. A member never needs to buy it separately.
This is an early, introductory price for a brand-new product — it’s expected to rise as we add more content. Buy now and it’s yours at today’s rate, forever.
No account needed: you pay, and we email you a one-click sign-in.
All-Access is $19.99 a month or $149 a year, and covers every course and most tools, this one included. Create a free account to subscribe.
Look first, then buy. Free previews on every product page. Secure payment by Stripe. Pay once, keep it forever. Details
See what is included in All-Access →General education on starting a law practice, using invented people and figures. It is not legal, tax, financial or regulatory advice. Rules on practising, ownership, insurance, client money, advertising and anti-money-laundering differ between countries and change: check your regulator’s current rules and take professional advice.
Teaching? Share this with your class
Free to use in class. The free parts open for everyone, no account needed.