The Lateral Partner Questioner: (continued)
This is also the time firms will review the partner's business plan and make their own assessments of the likelihood and amount of portable business. These assessments will, of course, affect the decision of whether to give the partner an offer and if so, what kind of offer (such as income partner or equity) and the entire compensation package.
The form will also ask for a list of your current clients for possible firm conflicts. If there are conflicts, they will need to be resolved. You might need to decide if you can or cannot give up that client.
Hiring Committee: The information gathered by the firm, will be presented to a ‘hiring committee’ for their approval. The committee will review, discuss, and vote to extend an offer of employment. If approved, an offer will be written. Sometimes, someone from the firm will call and discuss the highlights of the offer for your thoughts. Assuming you generally believe the offer is acceptable, the offer will be written and sent for your review and approval.
Receiving the offer: You review the written offer and make a final decision as to whether to accept or reject the offer.
References and background: After you sign the agreement, typically the offer is contingent based on the firm speaking to references, and completing other bckground verification's.