- Departure lounge clauses—use with caution
- What is a ‘departure lounge’ clause?
- Why have such clauses featured in the legal press recently?
- How does a departure lounge clause seek to protect the partnership or LLP?
- Are these clauses enforceable against retiring partners or members?
- What should those advising partners and firms have in mind when advising on these clauses?
Employment analysis: Recent reports in the legal press suggest the use of departure lounge clauses is on the rise, particularly among larger firms. Peter Garry, consultant solicitor at Keystone Law, explains how such clauses work in practice and sets out what those advising both firms and individual partners should bear in mind.
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