Conflicting Views as to the Unfinished Business Doctrine

As the era of failed law firms, both large and small, continues,1 so does debate as to the Unfinished Business Doctrine as most famously embodied in Jewel v. Boxer. Notwithstanding its general acceptance over the last 30 years, it was recently rejected in New York. Demonstrating that New York was not setting a contrary trend, the Colorado Supreme Court subsequently affirmed the doctrine. This uncertainty as to the doctrine’s application mandates that law and other professional firms consider and address the doctrine in their organizational agreements. Failure to do so only increases the likelihood of disputes, the expense of dispute resolution, and perhaps surprise as to the ultimate determination as to whether and how it should apply to a particular firm.