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Introduction to Paralegalism > 14 - Introduction to Law Office Administration > Flashcards

14 - Introduction to Law Office Administration Flashcards

1
Q

sole proprietorship

A

a form of business that does not have a separate legal identity apart from the one person who owns all assets and assumes all debts and liabilities

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2
Q

limited liability

A

restricted liability; liability that can be satisfied only out of business assets, not out of personal assets or a debtor or wrongdoer; protection from personal liability for business debts and claims

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3
Q

general practitioner (GP)

A

a professional who handles many different kinds of cases

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4
Q

PI cases

A

personal injury (tort) cases

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5
Q

legal intern

A

a student in a law office seeking practical experience

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6
Q

office sharing

A

attorneys who are sole practitioners but share the use and overhead costs of an office

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7
Q

partnership

A

a business or other venture jointly owned by two or more persons who share its profits and losses

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8
Q

pass-through entity

A

a partnership, limited-liability entity, or other business whose income tax is paid by the individual partners or owners of the entity rather than by the entity itself

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9
Q

partner

A

one who shares in the profits and losses of a jointly owned business or other venture; partners make the ultimate decisions on how the business should be managed

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10
Q

rainmaker

A

an attorney who brings fee-generating cases into the office due to his or her contacts and/or reputation as a skilled attorney

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11
Q

non-equity partner

A

a special category or partner who does not own the firm in the sense of an equity or capital partner

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12
Q

equity partner

A

a full owner-partner of a law firm

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13
Q

draw

A

a partner’s advance against profits or net income

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14
Q

associate

A

an attorney employee of a partnership who hopes eventually to be promoted to partnership

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15
Q

senior associate

A

an attorney who has been passed over for partner status but who remains at the firm

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16
Q

staff attorney

A

a full-time attorney employee who has no exception of becoming a full partner

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17
Q

of counsel

A

an attorney who is semi-retired or has some other special status in the law firm

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18
Q

contract attorney

A

an attorney hired to work for a relatively short period, usually on specific cases or projects

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19
Q

professional corporation (PC)

A

a corporation consisting of persons performing services that require a professional license

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20
Q

limited liability entity

A

a company or partnership whose owners are taxed like a partnership and have the limited liability of a corporation

21
Q

corporate law department

A

a law office within a corporation containing salaried attorneys who advise and represent the corporation

22
Q

managing partner

A

a partner of a law firm who has day-to-day responsibility for the overall management of the firm

23
Q

legal administrator

A

an individual, usually a non-attorney, who has responsibility for the day-to-day administration of a law office

24
Q

paralegal manager

A

a paralegal who helps recruit, train, and supervise paralegals in a law office

25
Q

virtual law office

A

an office in which an attorney provides limited-scope legal services mainly or exclusively through online communication

26
Q

limited-scope representation

A

less than comprehensive or full representation of a client

27
Q

matter

A

1 - a client issue; the reason a client hires or consults an attorney
2 - a case before the court

28
Q

new file worksheet

A

a form used by some law offices that is the source document for the creation of all necessary accounting records that are needed when a law firm begins working on a new client case or matter

29
Q

substantive

A

non-clerical; requiring legal skills to perform

30
Q

daily timesheet

A

a form on which timekeepers record how much time they spend on particular client matters

31
Q

non-billable time

A

time spent on tasks for which clients cannot be asked to pay

32
Q

blended hourly rate

A

a single hourly rate based on a blend or mix of the rates normally charged by different individuals

33
Q

value billing

A

a method of charging for legal services based on factors such as the results achieved and the complexity of the case rather than solely on the number of hours spent on the client’s case

34
Q

fixed fee

A

a flat fee for services, regardless of the amount of time needed to complete the task

35
Q

task-based billing

A

1 - charging a specific amount for each legal task performed

2 - paying for specifically performed tasks, often identified by using predefined categories or task codes

36
Q

hourly plus fixed fee

A

an hourly rate charged until the nature and scope of the legal problem is known, at which time a fixed fee is charged for services provided thereafter

37
Q

discounted hourly fee

A

an hourly or fixed fee that is reduced because of the volume of business the client gives the office

38
Q

incentive billing

A

a fee that is increased if a designated target is met; an increased fee for achieving an exceptional result

39
Q

retroactive negotiated fee

A

a client bill that is finalized after the services are rendered

40
Q

expense slip

A

a form used by an office to indicate that an expense has been incurred for which a client may or may not be billed

41
Q

draft bill

A

a billing memorandum that states expenses, costs, time spent, and billing rates of attorneys and paralegals working on a particular case or matter

42
Q

write down

A

deduct an amount from the bill

43
Q

write up

A

add an amount to the bill

44
Q

valuing the bill

A

determining whether there should be a write-down, a write-up, or no adjustment of a bill to be sent to the client

45
Q

e-billing

A

sending out bills electronically

46
Q

record information manager

A

someone in charge of client files in a large office

47
Q

alphabetical filing system

A

a method of storing client files in alphabetical order by the surname or organization name of the client

48
Q

numerical filing system

A

a method of storing client files by numbers or letter-number combinations

49
Q

closed file

A

the file of a client whose case is no longer active in the office

Introduction to Paralegalism (19 decks)

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