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Had a few questions around this:
1.Do partners typically take their clients along? What happens in cases where the client was originally referred by the old firm?
2. How do they handle fee mandates with clients when they move — do they renegotiate or just continue on similar terms?
3.How are conflicts managed, especially if the new firm already has clients who are competitors of the incoming partner’s clients?
4.What happens to the partnership / LLP agreement of the old firm, and how does onboarding in the new firm usually work?
I know it varies case to case, but would be great to understand what the usual market practice looks like.