The term “of counsel” refers to a specific relationship between an attorney and a law firm that is distinct from traditional roles such as partner or associate. While the exact definition can vary somewhat by jurisdiction and individual firm policies, it generally embodies the following characteristics:
Advisory Role: An attorney who is “of counsel” typically serves in an advisory capacity, providing specialized knowledge or experience that complements the firm’s practice areas. This attorney may not be involved in day-to-day legal work but can offer valuable insights on complex cases or legal matters.
Part-time or Flexible Engagement: Attorneys designated as “of counsel” may work part-time or on a flexible basis. They may have other professional commitments, such as running their own practice, engaging in academia, or pursuing other business interests, while still maintaining a relationship with the firm.
Experience and Expertise: The “of counsel” designation is often given to seasoned attorneys who have significant experience and expertise in particular areas of law. This can include retired partners, former judges, or attorneys transitioning to retirement who still want to maintain a professional affiliation with a firm.
No Equity Stake: Unlike partners, attorneys who are “of counsel” typically do not have an equity stake in the firm. Instead, they might receive compensation based on a salary, a fee-sharing arrangement, or a retainer.
Marketing and Reputation: Having attorneys “of counsel” can enhance a law firm’s reputation by associating it with experienced professionals who bring credibility and specialized knowledge. This designation can also be a marketing tool, showcasing the firm’s breadth of expertise.
Ethical Considerations: The relationship must be clearly defined to avoid confusion regarding the attorney’s role and responsibilities. It is essential that clients understand the nature of the “of counsel” relationship to ensure transparency and maintain trust.
In summary, “of counsel” signifies a close, ongoing relationship between a lawyer and a law firm that allows the lawyer to contribute their expertise while maintaining some degree of independence.