Marketplace Terms & Conditions
Version 8.0 · Effective August 13, 2026
These Terms govern use of the platform and services provided by The Law Practice Exchange, LLC (“LPE”) via thelawpracticeexchange.com and themarketplace.law (collectively, “The Marketplace").
By creating an account, providing electronic consent, or using The Marketplace, you agree to these Terms, including the Exchange Fee payable when an Achieved Relationship is attained with any party connected to you through The Marketplace or by LPE.
These Terms incorporate by reference LPE’s Standard Terms and Conditions (https://thelawpracticeexchange.com/terms-and-conditions/) and are accepted alongside the separate Marketplace User NDA.
Before You Use The Marketplace — Four Things Every User Must Know
| # | Key Term | What It Means |
|---|---|---|
| 1 | No upfront fee — but an Exchange Fee when you close | Joining is free. If you complete a deal or business relationship with a party you met through The Marketplace (or through LPE otherwise), an Exchange Fee of 1.5% of Gross Revenues is payable — minimum $5,000. No deal, no fee. |
| 2 | BOTH parties pay — buyers included | The fee is not seller-only. Seller pays 1.5% of their own Gross Revenues. Buyer (or acquiring/hiring party) pays 1.5% of the SELLING firm’s Gross Revenues — the buyer’s own revenue is irrelevant. Each pays separately; combined, LPE receives 3%. |
| 3 | You MUST notify LPE within 5 business days | Interest from a Candidate, an LOI or preliminary agreement, or commencement of a relationship: 5 business days to email info@thelawpracticeexchange.com, or notify via the application. Failure to disclose = material breach with liquidated damages of 2× the Exchange Fee. |
| 4 | Taking the deal offline does not avoid the fee | The Exchange Fee applies to any relationship with a party you learned of through The Marketplace or LPE — however and whenever finalized, on-platform or off, directly or through a new entity or affiliate. |
Worked Example — How the Exchange Fee Is Calculated:
| Party | Calculation | Fee Owed |
|---|---|---|
| A firm with $800,000 Gross Revenues is sold through The Marketplace | ||
| Seller — 1.5% of own Gross Revenues | 1.5% × $800,000 | $12,000 |
| Buyer — 1.5% of the Candidate’s (selling firm’s) Gross Revenues | 1.5% × $800,000 | $12,000 |
| Combined total to LPE | 3% of selling firm’s Gross Revenues | $24,000 |
Each party’s fee is invoiced separately and is each party’s own obligation. Minimum Exchange Fee: $5,000 per party. Where buyer/seller roles are unclear, 1.5% of the greater reported Gross Revenues. Due at commencement of the Achieved Relationship unless an approved Installment Payment Option applies.
1. The Marketplace & Our Services
LPE developed and maintains The Marketplace to assist lawyers, law firms, and other interested parties who desire to sell, buy, or achieve other valuable business relationships — providing a broader array of continuation and succession partners than traditional brokerage, together with the tools, resources, and assistance needed to complete those relationships.
Through The Marketplace and direct introductions, LPE will provide introductions or connections of Candidates to you, on a non-exclusive basis, so you and the introduced parties may explore a business relationship ("Services"). LPE is not responsible for discovery or screening (financial review, background checks, audits, conflict checks, or practice-specific checks), nor for negotiations, due diligence, or closing. Those duties are your responsibility — or LPE may be separately retained to assist through its advisory services.
No Agency or Brokerage. LPE provides a marketplace platform, non-exclusive introductions, and advisory and consulting services. LPE is not a real estate broker, business broker, dealer, or agent; does not represent any party; and does not negotiate, solicit, or effect any transaction on any party’s behalf. You act solely on your own behalf and retain full authority and control over all decisions, negotiations, diligence, and the terms of any transaction. The Exchange Fee compensates LPE for access to The Marketplace and its introduction and advisory services and is not a real estate or securities commission. Where activities you wish to undertake require a licensed broker in your jurisdiction, those services will be provided by a licensed cooperating broker under a separate engagement, as described in the Standard Terms.
2. The Exchange Fee
There is no fee to register. Instead, you must pay LPE an Exchange Fee, in cash or certified funds, in full, when you begin an Achieved Relationship with a Candidate that has been introduced to you. This applies whether you finalize the relationship on your own, through a new company, or through any other partnership or structure.
BOTH PARTIES PAY. Seller (or outgoing owner or comparable party): 1.5% of your own Gross Revenues. Buyer (or acquiring firm, purchasing party, employer, or similar): 1.5% of the Candidate’s Gross Revenues. Unclear roles: 1.5% of the greater reported Gross Revenues. Minimum Exchange Fee: $5,000 per party, regardless of Gross Revenues.
When no fee is owed: if you never complete a business relationship, no fee is due. LPE is not entitled to an Exchange Fee where you can demonstrate two-way direct communication with a Candidate regarding pursuit of an Achieved Relationship prior to that Candidate being introduced to you by LPE or The Marketplace.
When a fee is owed — including deals you bring to us: an Exchange Fee is earned for any Achieved Relationship with a Candidate you learned of through The Marketplace or LPE directly.
3. Non-Circumvention
By using The Marketplace or engaging with any Candidate or opportunity introduced by LPE, you agree not to circumvent LPE or its platform by attempting to complete or structure any Achieved Relationship outside the scope of these Terms, or in a manner that avoids payment of the Exchange Fee. This includes, but is not limited to:
- Communicating or negotiating directly with a Candidate without timely notice to LPE.
- Transferring the Candidate or opportunity to a different entity or affiliate not bound by these Terms.
- Initiating or finalizing an Achieved Relationship outside The Marketplace or without disclosure to LPE.
- Delaying or structuring a transaction to evade the Exchange Fee obligations.
You acknowledge that the Exchange Fee applies to any Achieved Relationship facilitated by, introduced through, or made known via The Marketplace or LPE, regardless of how or when it is finalized, and whether or not LPE actively participated in ongoing discussions or closing.
4. Mandatory Disclosure & Enforcement
You agree to notify LPE at info@thelawpracticeexchange.com within five (5) business days when any of the following occurs: (1) you receive interest from, or initiate discussions with, a Candidate; (2) you enter into any preliminary agreement, Letter of Intent, term sheet, employment discussion, or related document or understanding with a Candidate; (3) you commence an Achieved Relationship; or (4) funds or other value are exchanged between you and a Candidate. Your notice obligation includes timeline updates and, where needed for LPE’s fee determination, offer terms, letters of intent, employment letters, agreements, financials, and other relevant records relating to the Achieved Relationship and Gross Revenues.
ENFORCEMENT. Failure to disclose as required constitutes a material breach of these Terms. If LPE discovers undisclosed activity, or if your failure to respond continues for more than thirty (30) days following LPE’s written request for information, LPE reserves the right to: (a) demand immediate full payment of the applicable Exchange Fee; (b) assess liquidated damages equal to two times (2×) the Exchange Fee, in lieu of actual damages, as a reasonable pre-estimate of LPE’s losses and not as a penalty; and (c) pursue all legal remedies, including recovery of attorney’s fees, costs, and injunctive relief — in addition to late-payment interest and collection costs.
5. Payment & Installment Options
The Exchange Fee is due in full at commencement of the Achieved Relationship. Where a material portion of the Achieved Relationship value — more than fifty percent (50%) — is contractually payable over time rather than in a lump sum at closing, and the total projected Exchange Fee exceeds $25,000, you may submit a written request to LPE at info@thelawpracticeexchange.com to be considered for an installment payment arrangement. Any such arrangement is subject to LPE’s review and approval in its sole discretion, is not guaranteed, and must be confirmed in writing by LPE before it takes effect. Absent LPE’s prior written approval, the Exchange Fee is due in full at the time of the Achieved Relationship. Failure to comply with any approved installment arrangement triggers immediate acceleration of the full outstanding balance, plus interest and collection costs.
Payment authorization: Invoiced fees are due within thirty (30) days. If payment is not received within such period, you expressly authorize LPE to charge any credit card or other electronic payment method previously provided by you or used for any prior payment, for the full amount due, including applicable interest or late fees — expressly including any non-payment of Marketplace fees. Unpaid amounts bear interest at 8% or the maximum legal rate (whichever is less), plus reasonable collection costs including attorney fees and arbitration costs. LPE may discontinue services for past-due payments.
6. Listings, No Verification & No Offer of Securities
LISTING DISCLAIMER. LPE has not independently verified any of the information in any Marketplace listing or user profile and makes no warranty as to its accuracy or completeness. No listing constitutes an offer to sell, or the solicitation of an offer to buy, any security or investment interest. Any offer or sale of an interest that constitutes a security may only be made through official offering documents prepared by the parties and their professional advisors. You are responsible for your own independent verification, due diligence, and professional advice before entering any transaction.
Users posting listings are solely responsible for the accuracy, completeness, and lawfulness of their listing content. By posting a listing, you represent that the information is truthful and that you have authority to offer the practice or opportunity described. LPE may review, edit, decline, or remove any listing at its discretion, but has no obligation to monitor or verify listings. LPE does not give legal, tax, accounting, or securities advice through The Marketplace, and no tool, resource, or assistance provided in The Marketplace should be construed as such.
7. Accounts, Eligibility & Acceptable Use
Eligibility. The Marketplace is for lawyers, law firms, and other parties with a legitimate professional interest in buying, selling, or transitioning law practices. You must be at least 18 and able to form a binding contract. You represent that all registration information is truthful and accurate and will be kept current. LPE may require verification of identity or professional standing.
Account security. You are responsible for safeguarding your credentials and for all activity under your account. Notify LPE immediately of any unauthorized use. Accounts are personal to you (and the firm or entity you represent) and may not be shared, transferred, or used on behalf of undisclosed parties.
Acceptable use. You agree not to: (a) post false, misleading, or unlawful content; (b) use The Marketplace to harvest data, scrape listings, or solicit users for unrelated services; (c) interfere with the platform’s operation or security; (d) impersonate any person or misrepresent affiliation; (e) use another user’s Confidential Information for any purpose outside evaluating a potential relationship; or (f) violate LPE’s standards of professional conduct in The Marketplace.
8. User Activity Requirements
By using The Marketplace, you agree to provide timely updates to LPE on the status of all activities with potential Candidates, and to engage with messages and deal communications initiated by other users. Failure to remain an active user, or non-responsiveness to other users over an extended period, may result in revocation of Marketplace access. Access may be restored at LPE’s discretion.
9. Platform Provided "As Is"; Intellectual Property
As-is platform.The Marketplace, its tools, and content are provided "as is" and "as available," without warranties of any kind, express or implied, including merchantability, fitness for a particular purpose, and non-infringement. LPE does not warrant that the platform will be uninterrupted, error-free, or secure, or that any listing, match, or introduction will result in a transaction.
Intellectual property. The Marketplace platform, branding, content, tools, templates, and resources are the property of LPE or its licensors. You receive a limited, revocable, non-exclusive, non-transferable license to use the platform for its intended purpose. You may not copy, distribute, reverse-engineer, or create derivative works from the platform or LPE’s proprietary materials. Content you submit remains yours; you grant LPE a license to display and use it as needed to operate The Marketplace and provide the Services.
Electronic communications. You consent to receive communications from LPE electronically (email, platform notifications, text where provided) and agree that electronic notices satisfy any legal requirement that communications be in writing.
10. Confidentiality & the User NDA
All users accept The Marketplace User Confidentiality & Non-Disclosure Agreement (the "User NDA") at account creation — a separate, binding agreement governing your handling of other users’ Confidential Information, including identities, the fact that a firm is for sale or seeking to buy, and all information and analyses derived from Marketplace discussions.
In addition, under these Terms: LPE will not disclose your Confidential Information to any third party except to parties under confidentiality obligations, with your consent, or where you initiated the communication independently. You agree to safeguard the Confidential Information of any Candidate, LPE, or third party, and not to directly contact any Candidate or third party introduced through LPE or The Marketplace without (i) using the provided means of communication, (ii) full execution of a confidentiality agreement, and (iii) providing requested updates to LPE. These obligations are in addition to the User NDA, survive termination, and do not limit any other confidentiality agreement.
11. Removal & Termination
LPE may terminate this Agreement and your Marketplace access at any time, at its sole discretion, if LPE determines you have violated these Terms, been untruthful in materials or information provided, violated LPE’s standards of professional conduct, or otherwise. Upon termination, services are immediately discontinued and your listings and materials may be removed. LPE may cease related activities without prior notice or liability, and you remain responsible for any improper actions or untruthful information — and for any Exchange Fee or other compensation earned before, or arising from introductions made prior to, termination. You may terminate by written notice to info@thelawpracticeexchange.com; termination does not alter fees or compensation LPE has earned or that later becomes due from an Achieved Relationship with a Candidate introduced during your participation.
12. Defined Terms
"Achieved Relationship" means the earlier of: (i) finalization of relationship agreements with a Candidate, (ii) closing of a purchase, acquisition, merger, employment, or any other business agreement or structure with a Candidate, or (iii) the initial payment of any consideration to a Candidate — for any Candidate with which you, or any entity you represent, completes such a relationship, provided you learned of the opportunity via The Marketplace or through LPE directly. You retain full authority to approve any terms. Structures usually include: (i) Outright Sale or Purchase — sale or purchase of assets (including personal and firm brands) to continue the practice; (ii) Merger/Joinder; (iii) Affiliation — Of Counsel or other affiliation; (iv) Capital Partnership or Strategic Investment — a private equity investment, recapitalization, management services organization (MSO) arrangement, minority or majority equity investment, or other capital partnership transaction; or (v) Other Strategic Transaction — any other structure achieving a material change in ownership, governance, financial structure, or strategic direction of the practice. The term includes acquisitions, acquisition equivalents, mergers, partnerships, private equity investments, recapitalizations, capital partnerships, MSO arrangements, employment, contract, co-counsel, affiliated relationships, strategic alliances, and all other financial and/or business relationships between you and a Candidate.
"Exchange Fee" means the compensation owed to LPE upon commencement of an Achieved Relationship: 1.5% of applicable Gross Revenues per party (seller: own Gross Revenues; buyer/acquirer/employer: the Candidate’s Gross Revenues; unclear roles: the greater reported Gross Revenues), with a Minimum Exchange Fee of $5,000 per party.
"Gross Revenues"means the total money earned through legal business operations — all income, fees, and other revenue collected during the last complete fiscal year (12-month period) before an Achieved Relationship, as shown on the income statement or profit-and-loss statement ("gross revenues" / "top line revenues"), or, at either party’s preference, the gross income or top line revenues reported on the respective party’s tax return. You must share this information with LPE.
"Candidate" means law firms, individual lawyers, and other related advisors and businesses with which you may discuss a sale, purchase, or other business relationship through The Marketplace or LPE. "Client" / "you" means the registering user, and expressly includes the individual, their law firm business, and any newly created entities which may enter into an Achieved Relationship with a Candidate. "Confidential Information" has the meaning in LPE’s Standard Terms and the User NDA.
13. Marketplace Transactions; No LPE Involvement; Release
LPE provides introductions and a venue only. LPE is not a party to, and has no involvement in, any negotiation, agreement, transaction, or relationship between you and any Candidate or other user, even where LPE has been separately retained for advisory services. Any Achieved Relationship is solely between the parties to it, and you are responsible for your own decisions, due diligence, verification, and the terms you agree to.
Release. Because LPE is not a party to dealings between users, you release LPE — together with its members, managers, employees, agents, and affiliates — from all claims, demands, damages, and losses of every kind arising out of or connected with any dispute, transaction, listing, communication, or relationship between you and any other user or Candidate, including any party’s conduct, misrepresentation, breach, or failure to perform. This release does not limit LPE’s express obligations under these Terms or the User NDA, and does not waive the Exchange Fee or any other amount owed to LPE.
14. Marketplace Safety, Verification & Reporting
The Marketplace brings together independent parties, and LPE does not control and cannot guarantee the identity, honesty, qualifications, solvency, or conduct of any user. As stated in Section 6, LPE does not verify listings or user information. You are responsible for protecting yourself.
Recommended precautions. Before sharing sensitive information or committing funds, you should independently verify the identity and standing of any party, confirm information through your own advisors, use written agreements and reputable escrow or closing services, and never send funds or confidential materials in response to unsolicited or pressuring requests. Treat undue urgency, requests to move communications off The Marketplace, and terms that appear too favorable as warning signs.
Reporting. If you suspect fraudulent, deceptive, or improper activity by any user or in any listing, you agree to report it promptly to LPE at info@thelawpracticeexchange.com. LPE may, but is not obligated to, investigate, suspend, or remove users or listings. LPE is not responsible and will not be liable for the acts or omissions of any user, including any fraud, and is unable to recover funds or pursue claims on your behalf.
15. Your Content, Representations & Feedback
Your responsibility and representations.You are solely responsible for all listings, messages, files, and other content you submit (“User Content”). By submitting User Content, you represent and warrant that it is accurate and not misleading, that you own or have all rights necessary to submit it and to grant the license in Section 9, that you have authority to offer any practice or opportunity described, and that the User Content does not infringe any third party’s rights, violate any law or professional obligation, or disclose confidential information without authorization.
Prohibited content. You agree not to submit User Content that is false, deceptive, unlawful, defamatory, discriminatory, or infringing, that contains malware or harmful code, or that solicits users for purposes unrelated to a legitimate Marketplace relationship. This supplements the Acceptable Use rules in Section 7.
Removal; no duty to monitor. LPE has no obligation to monitor User Content but may review, edit, decline, or remove any User Content, and may suspend or restrict any account, at its discretion and without liability.
Feedback. If you provide LPE with feedback, suggestions, or ideas about The Marketplace, you grant LPE a perpetual, irrevocable, royalty-free, worldwide license to use them for any purpose without obligation, attribution, or compensation to you.
16. Indemnification by Users
In addition to the mutual indemnification in the Standard Terms, you agree to indemnify, defend, and hold harmless LPE and its members, managers, employees, agents, and affiliates from and against any claims, liabilities, damages, losses, and expenses (including reasonable attorney fees) arising out of or related to: (a) your listings, User Content, or use of The Marketplace; (b) your violation of these Terms, the User NDA, or any law or third-party right; (c) any transaction, dispute, or relationship between you and any other user or Candidate; or (d) your misrepresentation or breach. This obligation survives termination and is in addition to, and not limited by, the Standard Terms.
17. Third-Party Links & Services
The Marketplace may contain links to, or integrate with, third-party websites, tools, escrow providers, lenders, or other services. LPE does not control, endorse, or assume responsibility for any third party or its content, products, or services, and your use of them is at your own risk and subject to their terms. Any referral of an outside provider is also subject to Section 7 of the Standard Terms (Common Financial Interest).
18. Privacy
Your use of The Marketplace is also governed by LPE’s Privacy Policy, available at thelawpracticeexchange.com/privacy, which describes how LPE collects, uses, and shares information about you and your use of the platform and is incorporated into these Terms by reference. By using The Marketplace, you consent to LPE’s collection and use of information as described in the Privacy Policy. Where applicable state privacy laws apply, you may have rights regarding your personal information as set forth in the Privacy Policy.
19. Copyright Complaints
LPE respects intellectual property rights and expects users to do the same. If you believe content on The Marketplace infringes your copyright, you may send written notice to LPE’s designated agent at info@thelawpracticeexchange.com, including the information required under the Digital Millennium Copyright Act (DMCA). LPE may remove allegedly infringing content and may, in appropriate circumstances, suspend or terminate the accounts of users who repeatedly infringe.
14. Standard Terms; Changes; Acceptance
These Marketplace Terms incorporate by reference LPE’s Standard Terms and Conditions, at https://thelawpracticeexchange.com/terms-and-conditions/— including Your Assistance, Confidentiality, Arbitration (Wake County, North Carolina), Claims & Indemnification, No Legal or Tax Services, Cooperating Brokers, Real Property Brokerage, Common Financial Interest, No Partnership, Governing Law & Venue, and Counterparts/E-Signature.
LPE may change these Terms from time to time upon notice to users; continued use of The Marketplace after notice constitutes acceptance. The version in effect on your acceptance date — and any updated version you continue using under — governs your participation.
ACCEPTANCE.By creating an account, providing your electronic consent, or using The Marketplace, you acknowledge that you have read, understood, and agree to be bound by these Terms — including the Exchange Fee, both-party fee obligation, mandatory disclosure duty, and non-circumvention provisions — together with the incorporated Standard Terms and the separately accepted User NDA. An e-signature or electronic consent is legal and binding. Dated as of the date of consent ("Effective Date").