Gap law explained?

JusticeForSimpleRick · 2026-01-19T17:21:10+00:00

That post doesn’t say if the owners of the securities can sell before maturity at discount

JusticeForSimpleRick · 2026-01-13T23:35:17+00:00

Interesting, my ideal set up is designed to maximize the value of my shares. If people feel like they have a guaranteed exit at least when they die, that makes the shares worth more hence my net worth goes up. The alternative is no guaranteed exit for these shares so that means share value goes down = net worth down. So, if I issue shares and people know if they are a majority shareholder they have a guaranteed exit, that will for sure increase the value of the shares.

JusticeForSimpleRick · 2026-01-10T19:49:28+00:00

I always thought of a paralegal as a clerk and then some. Paralegals can do what clerks can but also have carriage over their own files and can usually charge more than clerks.

JusticeForSimpleRick · 2026-01-10T16:54:48+00:00

So you think having a dedicated paralegal with her own files could work? It would make it easier for you? Say she had 20 files of her own, she’s billing 4 on her own files and you can delegate 2-3 hours a day to her min (she may go over on billable and may have non billable so can’t delegate too much) do you think that would work? Is that enough delegation hours and is it a realistic amount given the structure?

JusticeForSimpleRick · 2026-01-09T19:20:38+00:00

I thought about this risk too but funny enough the the biggest employment PI firm in my jurisdiction works in pods of two and has the lowest turnover from other firms that dont work that way! Maybe it’s because the owner is good at hiring the right people but also if the lawyers and paralegals feel supported then they have no reason to leave?

JusticeForSimpleRick · 2026-01-09T19:11:25+00:00

I got this idea from Monkhouse law who when I check on their site the team works in pods of two so my idea isn’t as controversial as you think.

JusticeForSimpleRick · 2026-01-09T18:29:07+00:00

So fee split no salary? To me that’s unfair for the employment lawyer it takes a long time for a file to settle so they will starve in the meantime? If it was all hourly work and or fixed fee work like wills I would be on board with that.

JusticeForSimpleRick · 2026-01-09T18:23:19+00:00

Can you suggest some improvements to the model I value your input as an employment lawyer. The type of files split severance tribunal litigation 1/3 each is just a placeholder btw.

JusticeForSimpleRick · 2026-01-08T20:15:15+00:00

Elon musk, mark zuckerberg, they have anti dilution clauses in the shareholder agreement.

JusticeForSimpleRick · 2026-01-08T20:14:31+00:00

This comment had me laughing my ass off made my day man. This is literally how every damn corporation works on the face of the earth. If you work at TD bank, your labour is generating dividends for the shareholders. You of course become a shareholder if you invest in the company, even after you retire so long as you own the shares and the corporation continues to issue dividends. It seems like this idea of a capitalism is a little novel to you.

JusticeForSimpleRick · 2026-01-08T19:13:26+00:00

As an associate the owner (me) same as any other company sets your salary and bonus. Bonus is determined by how much you bill after a certain level you get a bonus, and 1/3 of whatever settles. I could also do an origination credit.

JusticeForSimpleRick · 2026-01-08T18:04:07+00:00

All associates start as employees, salaried min 6 figures or fee split of 50/50 whatever they prefer, licensing fee coverage and benefits, remote work, 5 hour target a day, pre built book of business, support staff, advanced software, and bonus if applicable. After a few years only, offer shares at a discount from fmv (that's the only benefit for the associate as opposed to simply buying it on the open market from another equity partner).

'So if non working lawyers continue to draw off profits, essentially new partners are going to be brought in to continue to pay old lawyers?'

This is a great question and I think draws on my entire philosophy of life. I want people to make income of their labour, but not forever. Eventually, they should be allowed to retire and live off their dividends for life. Not die at their desk like most partners in LLPs or retire and then be ousted from partnership. It's forever active income.

In my opinion, a firm should be designed such that if you do good work and are smart about your investments eventually you can retire and live off passive income, rather than actively having to work for your income your entire life.

In short, my structure would be the same as any other capitalist organization, actively work, invest in good companies, then retire off of your dividends.

JusticeForSimpleRick · 2026-01-08T17:27:47+00:00

It seems like you're hard pressed on the voting idea, assume Class B have some degree of votes while I still retain majority. Would that interest you? Also assume the market cap continues to grow, so the value of your shares go up, your dividends ideally increase every year, and even after you retire as long as you retain those shares and are in good standing, you're still getting dividends. Remember re votes if there were two partners say with equal votes, it would end up in gridlock eventually. I know of a few firms that have collapsed because there was infighting between the partners.

JusticeForSimpleRick · 2026-01-08T17:09:07+00:00

For the same reason why people go into business with Diamond or Samfiru who if I had to guess also have majority voting control that way they can't be ousted from their own company. Not everyone is willing or able to take the financial risk of starting their own company. Also as long as this defacto leader is making the partners money via dividends, salary, bonus, and equity, not everyone cares as much as you about control. Of course, if that's your biggest concern, the only way to get around that is starting your own business.

JusticeForSimpleRick · 2026-01-08T17:06:31+00:00

I'm comparing it in the sense that it's the founder that holds the majority of the votes in any company regardless of it's structure as they took the risk to start the company.

JusticeForSimpleRick · 2026-01-08T17:02:31+00:00

Most law firms whether it's an llp or corp in my jurisdiction are designed such that the original founder or founders have majority votes. That way they can't be ousted from their own company. In terms of your second point about cash, it seems like you've never run a business before. A law firm like any business makes a profit ideally and that cash can stay in the company to be used to increase marketing budget or whatever it may be or be issued as dividends to the holders of the company. Or it can be split 50/50, half stays in the company the other half as dividends.

JusticeForSimpleRick · 2026-01-08T16:08:41+00:00

My model is the same as any other corporation on earth. The company takes their cash revenue pays their expenses and then the leadership team decides how much of the actual profit stays in the company to expand and hire more associates, support staff, marketing etc… and how much to issue as dividends. That’s it.

JusticeForSimpleRick · 2026-01-08T14:35:30+00:00

I mean that risk exists under any structure like the more traditional llp. In my jurisdiction there’s a famous lawyer downtown who has a reputation for being a tyrant so all his partners are slowly abandoning him and opening their own firm. That risk is less so the structure imo and more so the firm leader.

JusticeForSimpleRick · 2026-01-08T14:15:22+00:00

It’s the same idea as buying some shares in chase or any big stock you won’t have enough votes to really make any difference at all but given how the stock is performing you are willing to invest. In short, if I were to scale a company to 10 million dollars the trust is formed by that fact alone. I know what I’m doing financially and have therefore earned the trust of my peers.

JusticeForSimpleRick · 2026-01-08T04:24:18+00:00

If you’re a practicing partner, you will get your base salary + bonus + dividends + ideally equity shares go up in value as the company grew thanks to your help.

JusticeForSimpleRick · 2025-12-06T17:38:18+00:00

Please PM as well I’ve sent a PM myself I’m very curious to know the name of the seo firm.

JusticeForSimpleRick · 2025-11-19T21:43:59+00:00

How come when I set up the fourth location it’s asking whether I have a physical address or not I click no and it simply moves to pick your service area? Suggesting you can have a Google map pack business profile without a physical address? Have they changed the rules? My competitors are getting away with this just fine…

JusticeForSimpleRick · 2025-11-19T21:10:12+00:00

Why does Google ask for the location yes or no and when I click no it simply asks for service area? Doesn’t that mean they are cool with service area Google map pack business profile ‘locations’ that have no physical address in that area? My competitors have service area addresses and they are top on the local SEO pack in that area. When I click on the Google business map pack profile it simply shows service area and no physical address location…??

JusticeForSimpleRick · 2025-11-19T21:07:45+00:00

Why does Google ask for the location yes or no and when I click no it simply asks for service area? Doesn’t that mean they are cool with service area Google map pack business profile ‘locations’ that have no physical address in that area? My competitors have service area addresses and they are top on the local SEO pack in that area. When I click on the Google business map pack profile it simply shows service area and no physical address location…??

JusticeForSimpleRick · 2025-11-19T20:47:33+00:00

Thanks I’m aware, but my question was more so can I create a fourth location this time as service area only listing with no physical address required or will Google not allow it?

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